Japan's All Nippon Airways (ANA) posted a record operating profit of $1.2 billion in the year ended in March, boosted by cost cuts and a recovery in international travel demand.
ANA's group profit reached 97.02 billion yen, soaring 43.1 percent from the year before and eclipsing the previous record of 92.1 billion yen in fiscal 2006.
Group revenue rose 4.0 percent to 1.41 trillion yen with net profit rising 20.9 percent to 28.18 billion yen.
The strong results reflected "measures taken by the group to stimulate demand and cut costs in the face of a challenging economic environment," the company said in a statement, released on Friday.
"Despite a number of potential headwinds in the coming 12 months, ANA expects to make further progress in the current fiscal year ending March 2013, using its strength as a network carrier and the launch of low-cost airline operations to improve overall group performance."
ANA projects operating profit will rise 13.4 percent to 110 billion yen year-on-year in fiscal 2012 and net profit by 42.0 percent to 40 billion yen on a 6.3 percent rise in revenue to 1.5 trillion yen.
Japan's aviation market has long been dominated by ANA and Japan Airlines, but this year sees the launch of a number of new low-cost carriers that are expected to provide competition to the established airlines.