Ryanair profits drop affects FTSE sentiment

FTSE airline shares were sharply lower today after Dublin-based carrier Ryanair warned it could make a loss in the current financial year.

The worse-than-expected update from Ryanair, including an 85% drop in first quarter profits, caused rival easyJet to fall 7% or 23.5p to 312p in the FTSE 250 Index while top flight airline British Airways dipped 5% or 12p to 234.75p.