Etihad Airways has posted the strongest half-year profit in its history.

The Abu Dhabi airline reported earnings of 1.1 billion dirhams — that’s just under 300 million dollars — for the first six months of this year. Etihad says strong passenger demand and cost savings drove the result. The carrier has also confirmed it is not planning an IPO in the near future, choosing instead to reinvest profits to expand its global network.