Ryanair chief executive Michael O'Leary says the airline has factored a European recession lasting up to 18 months into its business plan.
He added that he would welcome an economic slowdown across the continent that would make consumers more cost conscious and therefore choose Ryanair.
He was speaking in Spain, where Ryanair said it would invest $140m in two planes to serve 12 routes from a new base at Reus airport near Barcelona in Spain. The airline is making the airport its 26th European hub.
The new service - which will see routes to Ireland, the UK, Germany, France and other parts of Spain - will create 1,000 jobs, Ryanair said.
