Easyjet has seen annual pre-tax profits rise after carrying 37.2 million passengers in the year to 30 September.
Easyjet is expanding rapidly
The Luton-based carrier said profits were up by 56% to £201.9m ($431m; 294m euros), with its load factor - which shows how full flights are - at 84%.
In the past year Easyjet added eight destinations and 46 routes, bringing its network to 289 routes, using 77 airports in 21 countries.
But it said rising oil prices meant the "fuel environment remains challenging".
However, the airline said high fuel costs would be partly offset by the weak dollar.
Andy Harrison, Easyjet chief executive, said: "Despite challenging conditions, revenue, profit and return on equity have all shown strong improvements reflecting the success of our focus on low cost with care and convenience.
"At the same time as driving the financial performance of the business, our now well established management has also expanded Easyjet's network and fleet, which carried over 37 million passengers in the year, making the airline the fourth largest in Europe."
The figures do not include the proposed purchase of GB Airways, which was announced in October.
Easyjet said it expected to complete the £103.5m purchase of the airline by 31 January 2008.