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Passengers Switching to Ryanair in Recession: CEO

Monday, 7 Nov 2011 | 1:30 AM ET

"What we see is in the recession and the pressure across Europe, more and more people are switching off the high fare airlines with fuel surcharges and on to Ryanair," Michael O'Leary, CEO of Ryanair told CNBC after the low cost airline raised its full year guidance by 10 percent after reporting a 24 percent jump in first half revenue.