Ryanair Agrees $1.6 Billion Aircraft Financing Deal

Europe’s largest budget airline Ryanair said on Friday it had awarded mandates to a syndicate of banks for approximately $1.6 billion of financing for 55 aircraft to be delivered between November 2009 and October 2010.

“The securing of this facility will enable Ryanair to continue to grow its business and bring more competition, choice and lower fares to consumers in Europe,” Chief Financial Officer Howard Millar said in a statement.

The syndicate of banks is comprised of BNP Paribas, Calyon and Sumitomo Mitsui Banking Corporation.