Money managers under the microscope
It is hardly uncommon in today’s markets to see an investment fall in value.
But shareholders in Irish national carrier Aer Lingus have more reason than most to be upset. This week its shares slumped by more than 35 percent after a profit warning investors did not see coming.
The news that the struggling airline will fail to make a pretax profit in 2009 contradicted claims made just two and a half months ago when it was defending a takeover approach from hated rival Ryanair.