China’sSpring Airlinesreported a net profit of CNY1.33 billion ($205 million) in 2015, up 50% over a net income of CNY884.2 million in 2014.

Full-year operating revenue increased 10.5% to CNY8.09 billion while expenses rose 3.55% to CNY6.47 billion. The carrier credited robust market demand growth, fleet expansion and big ancillary revenue increases as main reasons for the profit increase.

As of Dec. 31, 2015, the Shanghai-based carrier operated a single fleet of 52 Airbus A320 aircraft. It increased capacity 21.7% in terms of ASKs by introducing six A320s last year. Spring’s ancillary revenue jumped 54.8% to CNY642 million in 2015.

Passenger boardings grew 13.5% to 13 million with an average load factor 93%, down 0.24 points over 2014. Passenger revenue grew 21.4% to 22.18 billion RPKs against a 22% passenger capacity increase to 23.86 billion ASKs.

Cargo traffic volume fell 2.6% to 45,779 tonnes.