Etihad Airways recorded a net profit of US$103 million for 2015, a 41% year-on-year increase, according to results released by the airline.

Etihad said that this was the fifth consecutive year of net profitability and its strongest performance to date.

“Our profitability clearly demonstrates the success of our business strategy, based on organic growth boosted by our partnerships,” said James Hogan, president and CEO of Etihad. “As well as operating profitability, we are building enterprise value across the airline and its many additional business streams.”

Etihad carried 591,000 tonnes of cargo and mail in 2015, a 3.87% growth over 2014, and accounted for 88% of air freight imports, exports and transfers at Abu Dhabi International Airport.

The carrier said that it had launched freighter services to several markets, including Dakar, Nouakchott and Douala, bringing the total number of freighter-only destinations to 20. It had also begun offering bellyhold capacity to Kolkata, Madrid, Hong Kong, Entebbe, Edinburgh and Dar es Salaam.

Etihad currently operates a fleet of two Airbus A319s, 23 A320s, 10 A321s, 20 A330-200s, six A330-300s, one A340-500, seven A340-600s, seven A380s, five Boeing 777-200LRs, 25 777-300ERs and six 787-9s, as well as four A330-200Fs, two 747-400Fs, one 747-8F and five 777Fs.