Lithuanian charter carrier Small Planet Airlines has seen its annual profits more than quadruple year on year.
In posting its 2014 financial results, the airline confirmed that pre-tax profits had reached a record €8.2m ($9.2m) compared with €1.7m ($1.9m) in the previous year.
At the same time its revenue increased by just 9.2 per cent.
The carrier’s CEO Vytautas Kaikaris said the results were testimony to its decision to slow growth and focus on improving operations.
Small Planet, which was formed in 2007, operates a fleet of 737 and A320 aircraft in Europe during the summer months and moves the bulk of its activity to Asia during the winter and recently opened an office in Thailand.
In 2015 the charter firm aims to increase its fleet and grow operations in the UK and Poland.