Ryanair has revealed its average fares declined by a 10th this year amid pressure on consumer spending, but said this weighed on profits as it warned over ongoing Boeing delivery delays. The low-cost airline said more consumers are switching to Ryanair from rival brands.
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00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post and
00:05here are your headlines for this morning. Ryanair has revealed its average fare has
00:10declined by a tenth this year amid pressure on consumer spending, but said this weighed
00:16on profits as it warned over ongoing Boeing delivery delays. The low-cost airline said
00:23more consumers are switching to Ryanair than rival brands. It reported a pre-tax profit
00:29of €2.1 billion for the six months to the end of September, 16% lower than the same
00:35period last year. Earnings were affected by average airfares declining by a tenth year
00:41on year, which it said was partly driven by pressure on consumer spending amid higher
00:46interest rates and efforts to offset higher living costs. My name is Greg Wright. I'm
00:52the Deputy Business Editor of the Yorkshire Post.