Ryanair reports 10% drop in average fares amid consumer ‘spending pressure’

Ryanair has revealed its average fares declined by a 10th this year (Chris Radburn/PA)

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.