Air France, the French state-owned airline which controls the Irish carrier CityJet, has reported a 34.2 per cent rise in operating profits to €358 million in the year to March 31st, up from €267 million in the previous year.

The company, which added a 66 per cent stake in CityJet to its existing 25 per cent holding last February, said its operating revenues rose by 13.5 per cent to €10.32 billion. Air France is understood to have paid Air Foyle about £1.5 million for the 66 per cent stake.