Low-cost carrier (LCC) Wizz Air has reported record full-year net profits of €183m ($199m) for the year ending March 31, 2015.
The profit is an increase of 109 per cent on last year’s €88m ($96m) for the Hungarian LCC, which also saw revenues rise 21 per cent to reach a record €1.2bn ($1.3bn).
Wizz Air’s annual passenger numbers also increased by 18 per cent from 13.9 million in 2014 to 16.5 million for this year.
It said its improved results were driven by expanding its network and capacity across Central and Eastern Europe while lowering operational costs.
In its outlook for 2016 Wizz Air said it expects a further “significant” rise in post-tax profits between €165m ($180m) and €175m ($191m).