Etihad Airways announces $103M profit for 2015

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Etihad Airways, the United Arab Emirates' fast-growing national carrier, says it had a profit of $103 million in 2015 off total revenues of $9.02 billion.

The airline announced earnings Wednesday, saying 2015 marked its fifth year of profitability. It had a profit of $73 million and revenues of $7.6 billion in 2014.

Etihad, based in Abu Dhabi, says it carried 17.6 million passengers in 2015, an increase of 18.9 percent from the year before.

Etihad has credited its sales growth in part on its strategy of partnering with other carriers through minority equity stakes and codeshares outside of longer-standing traditional airline alliances.

The United Arab Emirates is also home to the Dubai-based long-haul carrier Emirates.