European low-cost airline Wizz Air posted a full-year net profit on Thursday, helped by robust travel demand, higher utilization of operational fleet and a one-off compensation received for some grounded aircraft.

The company reported a net profit of 365.9 million euros ($395.90 million) for the year ended March 31, compared with a net loss of 535 million euros a year earlier. The airline had reported losses in the previous three years.

The full-year profit was higher than a company-compiled consensus of a 350.8 million euros. ($1 = 0.9242 euros)

(Reporting by Eva Mathews in Bengaluru; Editing by Janane Venkatraman )