Ryanair Issues Profit Warning

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Ryanair rattled investors with a warning that profit for the current financial year could fall short of previous forecasts, citing intensifying competition for low-fare passengers. The warning, the first by the Dublin-based budget airline since 2004, sent Ryanair?s shares tumbling as much as 15 percent in London trading. The decline weighed on other European airline stocks as well as investors worried that the news could presage a difficult winter for an industry that is still struggling to recover from the effects of the 2008 financial crisis.

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