Ryanair is vowing to cut ticket prices by up to seven percent after posting record annual profits.
The low-cost Irish airline earned a net profit of more than 1.3 billion euros last year, even though fares were discounted by an average of 13 percent.
Despite a positive outlook, however, the company said there may be some turbulence ahead.
Kenny Jacobs, the Chief Marketing Officer of Ryanair, said: “For the industry in general I think uncertainty over Brexit that is the single biggest issue.
“Other than that there is over-capacity in Europe as charters are moving out of Turkey, north Africa, into mainland Europe. They will continue to be the two biggest challenges in the coming year and finally it will be security events.”