Oh boy ... 37 million shares exchanged after Ryanair's profit warning this afternoon and a 32% drop of its share price. However, some city analysts are not so pessismistic >
"This doesn't mean the wheels are falling off Ryanair's model. It can take comfort from Easyjet's experience. After its rival slowed its whacking pace of expansion in the second half of 2003, margins and profits returned. The same should happen to Ryanair once it scales back growth to a more manageable 20%
from May this year."
SF