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Ryanair shares drop sharply

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By Louise Miner  with Reuters
Ryanair shares drop sharply

As Ryanair flies into its worst week of stoppages it's faced in decades, shares have dropped sharply on Monday.

They plunged 4.7 percent to 14.82 euros.

It's after the Irish airline has warned its investors of more strikes and weaker ticket prices this summer.

Even though Ryanair says it was on course to hit its annual profit target, fraught relations with staff and pressure on fares has taken its toll.

Chief Executive Michael O’Leary says he expects more strikes during the summer as, he says they're not prepared to concede to unreasonable demands which will compromise the low fares.