DUBLIN (Reuters) - Ryanair expects to be able to start a program of share buybacks and special dividends after 2015 once most of the capital expenditure needed for its order of 175 Boeing 737-800s has ended, chief executive Michael O‘Leary said on Tuesday.
Ryanair signed a commitment to buy the aircraft in New York on Tuesday in a deal worth $16 billion at list prices.
“We expect to fund this order from a mix of internally generated cash flow and debt,” O‘Leary told a conference call with investors.
“But once we get over that hump of internally (funding)... we would expect to resume a program of share buybacks and probably special dividends” after calendar 2015, he said.
Reporting by Conor Humphries; Editing by Anthony Barker