Ryanair, Europe's largest budget airline, has reported an 18% drop in net profit for the first half of its fiscal year, primarily due to reduced ticket prices and operational challenges from Boeing's aircraft delivery delays. The airline's strategy of lowering fares to increase passenger numbers led to a record 115 million passengers but also reduced profit margins. Delays in Boeing's 737 Max-10 deliveries, exacerbated by strikes and supply chain issues, have forced Ryanair to revise its passenger growth target for fiscal 2026 from 215 million to 210 million. Additionally, Ryanair has criticized the UK government's decision to increase Air Passenger Duty, arguing it will negatively impact tourism and economic growth, leading to a 10% cut in flights to and from UK airports next year. CEO Michael O'Leary highlighted ongoing risks such as geopolitical conflicts and further Boeing delays that could affect future performance. Despite these challenges, Ryanair remains focused on capturing market share from rival carriers by maintaining competitive fares.