Flybe announced a profit before tax of £6.8 million for the financial year ended March 31, as it confirms plans for expansion in continental Europe.
The regional airline signed a codeshare deal with Air France in July, and plans to expand further - ongoing discussions with Finnair could mean substantial expansion in the Baltics and Scandinavian region.
Jim French, Flybe's CEO, said: "We have continued to grow our market share in the UK and have announced a string of exciting business developments which will accelerate the roll-out of the Flybe proposition into Europe, and we possess the flexibility within our fleet to accomplish this expansion."
The airline has also placed a multi-million dollar order with Embraer for up to 140 new aircraft, with the first delivery scheduled for next year.
The regional carrier carried some 7.2 million passengers between April 2008 and March 2010, maintaining the figure for the previous year (7.3 million).
According to Flybe, the ash crisis dented its overall profits to the tune of £12 million. The overal profit before tax for the last financial year (£6.8 million) was just over half that for 2008/9 (£12.8 million).
Flybe also announced it has more than halved its net debt, from £49.8 million in 2008/9 to £21 million for the last financial year.
www.flybe.com