ANA Holdings made a net profit of ¥78.1 billion (US$740 million) for the financial year 2015, a 99.2% year-on-year increase, according to financial results released by the company.

The company attributed the strong performance to the gradual recovery of the Japanese economy, as well as expansion of ANA’s international network.

However, revenues for the cargo business fell year-on-year, and the airline carried 810,000 tonnes of international cargo and mail, a 3.7% drop compared to April 2014-March 2015.

Demand for both international and domestic cargo services was subdued because of the depreciation of the yen, but ANA said that it would continue to strengthen its intra-Asia cargo network with its Boeing 767 freighters.