Government approves rise in An Post borrowing limit

The Government has approved the drafting of legislation to raise An Post’s statutory borrowing limit from approximately €74.3 million to €620 million, marking the first increase since the limit was set in 1983. This change is designed to better reflect the scale of An Post’s operations and provide greater investment flexibility as the company adapts to shifting market conditions.

Charlie McConalogue TD, Minister of State with responsibility for Sport and Postal Policy, emphasised the importance of this decision, noting that An Post’s revenue exceeded €1 billion in both 2024 and 2025. He highlighted the company’s transition from declining traditional mail volumes to a growing parcel sector, underlining the need for enhanced borrowing capacity to support future investments and commercial development.

Fergal Leamy, CEO of An Post, acknowledged the market challenges of falling mail volumes and rising customer expectations driven by e-commerce growth. He stated that the increased borrowing limit will provide the necessary financial flexibility to invest in infrastructure, technology, and capabilities, ensuring An Post remains competitive and sustainable. The legislation maintains existing requirements for Ministerial consents on borrowing, preserving governmental oversight.