Easyjet added 72 new routes in the past year

The company unveiled a 9% jump in profits to �68m ($116m).

Passenger numbers rose 21% to 29.6 million and the load factor, indicating how many seats are filled, was 85.2%.

Chief executive Ray Webster said the airline had made "sound progress", with new routes, cost-cutting and rising demand offsetting higher fuel prices.

Shares in the firm closed 33.5 pence, or 10.93%, higher at 340p following the news.

The Luton-based carrier, which operates 212 routes to 64 airports, said it had seen strong growth in mainland Europe.

Easyjet's fuel costs per seat soared 47% in the 12 month period after oil prices rose to record levels.

The airline, Europe's second largest budget carrier, has 50% of its fuel hedged at $590 to $660 per metric tonne for the first half of the current year and a quarter in the second half.

'Good shape'

Ray Webster was making his last statement as chief executive before retiring on 1 December. He is being replaced by Andrew Harrison, the former head of UK motoring services firm RAC.

It appears the momentum is being driven both by market conditions and self-help initiatives Merrill Lynch Check Easyjet's share price

Mr Webster said: "We've made sound progress in the year with good growth in passenger numbers and revenue.

"I'm pleased also with the expansion of our network and with 72 new routes added we are in good shape for future growth."

He said despite the fuel price increases the airline had minimised the rise in costs.

During the coming year he said Easyjet expected to achieve mid to high single-digit percentage profit growth.

Analysts believe new planes, a fresh maintenance contract and more favourable contracts with airports can help further lower costs.