Spanish LCC Volotea said it achieved a record operating profit in 2018 as it continues to expand in its niche sector.
Barcelona-based Volotea connects second- and third-tier European cities, cutting out major hubs and specializing in routes that are generally too thin to attract the major LCCs.
The company said revenues rose 29% to €396.1 million ($441.6 million) over 2017’s figure of €307.5 million. Ticket revenues were up 28% at €258.4 million and ancillary revenue up 31% at €137.7 million.
Operating profit (EBIT) was up 63% at €13.6 million, compared to €8.3 million in 2017…