Ryanair leads collapse in travel stocks on back of flight cut plans 

Ryanair will cut flight capacity by 20% in September and October. Picture: Niall Carson/PA Wire

Ryanair has led a further fall in European airline and tourism shares on the back of it announcing a cut to flight numbers and passenger capacity over the next two months.

The airline’s shares – down by over 30% since January – tumbled nearly 8% as it said it would be reducing its flight capacity by 20% during September and October due to forward bookings having “notably weakened” over the past 10 days.