Ryanair it revises its estimates downwards and the stock market collapses. Ireland's low-cost carrier has today launched a profit warning, announcing that the net profit for the year ended in March should settle at the lowest point of the range indicated in the preliminary estimates, between 570 and 600 million euros.
After the news, the title of the company it literally sank and in the late morning it lost almost 15% on the Dublin Stock Exchange.
Ryanair's profit warning, and subsequent market crash, unleashed a domino effect on airline stocks, which are heavy on their respective stock exchanges: Easyjet loses 7% in London, International Consolidated Airlines Group 4% in Madrid, Lufthansa 3,7% in Frankfurt e Air France-Klm 2,8% in Paris.
