- Eastern European focused budget carrier Wizz Air booked a 6% rise in full-year profit after it ramped up flying capacity to new destinations in Europe.

Net profit for the year through March rose to €291.6m, up from €275.1m on-year.

Revenue jumped 20% to €2.3bn as the airline carried 17% more passengers.

For the current financial year, Wizz Air said it expected its net profit to grow to €320m-to-€350m, despite warning of another 'very challenging' operating environment.

'We remain very optimistic for the current financial year,' chief executive Jozsef Varadi said.

'Higher fuel prices are supporting a stronger fare environment and we expect these macro conditions to provide Wizz Air with market share opportunities as weaker carriers withdraw unprofitable capacity.'

Story provided by