Ryanair shares slide as it cuts flights amid coronavirus bookings hit

Ryanair shares slid by a further 5% as the airline said it will cut a large number of flights to Italy over a three-week period starting from March 17, as the coronavirus crisis leads to a “significant drop” in bookings.

The latest fall brings the losses for the airline’s shares to about 20% since the start of the year, meaning the airline has lost around €2.5bn from its market value during the crisis.