The company, which includes Jetstar Asia and its sister airline Valuair, saw a 20 per cent increase in revenue in the past financial year, it said in a statement.

Jetstar saw a four per cent rise in passenger load factor to more than 75 per cent and a jump in passenger carriage of about 20 per cent for the year ended 31 March 2008, it said in a statement.

Jetstar did not release detailed figures.

The airline's chief executive officer, Chong Phit Lian, attributed the results to 'prudent cost and resource management' along with healthy passenger revenue and load factors, despite rising fuel costs.

'With these measures, we have streamlined our operations, optimised the use of our resources and increased our loads and ticket sales,' Ms Chong said.

She took over as head of Jetstar two years ago, saying the airline would turn a profit in three years.

'But we have achieved profitability ahead of schedule in just two years,' she said.

Singapore-based budget carrier Jetstar Asia and the budget offshoot of Australia's Qantas began operating under the single brand 'Jetstar' in 2006.

Jetstar's Australian operations are wholly-owned by Qantas but operate independently, Jetstar says.

The Singapore operation, a partnership 49 per cent owned by Qantas, flies to 14 Asian destinations.

Jetstar acquired Valuair in 2005.

Asia's budget airline sector is booming, with Singapore-based Tiger Airways, Malaysian-based AirAsia and others. -- AFP