Ryanair's profits drop amid Boeing strike delays

Ryanair's profits have dropped by nearly a fifth, as lower peak-season fares met higher costs that the airline blamed partly on problems at Boeing.

- Gwyn Topham

Summer fares were down by an average 7% as Ryanair cut prices to keep its planes full, carrying 9% more passengers from April to September this year than last.

However, delays to delivery of its new Boeing 737 planes left the no-frills carrier "over-scheduled, over-crewed and over-costed", according to the chief executive, Michael O'Leary.

The airline reported profits of €1.8bn (£1.5bn) for the six months to the end of September, 18% lower than the same period the previous year.