Ryanair Profit Warning Bodes Poorly For Europe Economy

Ryanair Holdings PLC (LON:RYA) made its name, and its profits, by being ahead of the curb. The company announced a profit warning this morning that left investors in European airlines wondering if they were missing something. Ryanair hasn’t missed estimates on annual profit in a decade, and routinely beats projections. Something may be rotten in the European airline industry. This morning Ryanair PLC (LON:RYA) announced that it expected profits to be around 575-600 million Euros for the full year. Analysts were expecting round 645 million Euros from the budget airline by consensus. The revelation led to an 11 percent drop…