Webjet shares are tanking

Ludovic Marin/AFP/Getty Images

Shares in Webjet fell hard after the online travel booking site released a trading update.

They dropped as much as 12%. A short time ago, they were down 8% to $10.89.

The company announced guidance for 2018 saying it is on track to deliver EBITDA (earnings before interest, tax, depreciation and amortisation) of $80 million compared to $51 million last year.

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