Shares of Ryanair (RYA.IR) are plunging after announcing its fiscal first quarter profit after tax fell 46% year over year.

Morning Brief hosts Seana Smith and Madison Mills break down the Irish low-cost air carrier's earnings and how overcapacity is putting pressure on the budget airliner.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl