Abu Dhabi's Etihad Airways was named the 2016 Air Transport World (ATW) Airline of the Year during a reception in New York on Thursday.

"In everything it does, Etihad shows there is a different way and a way to differentiate. I sincerely congratulate James and his team on their most deserving accolade," ATW Editor-in-Chief Karen Walker said, according to ATW's website .

The award will officially be presented in February at the 42 nd annual ATW Airline Industry Achievement Awards. Recognizing excellence across a broad range of criteria, the award is considered by many as the most prestigious in the industry. Etihad Airways beat out more than 100 competitors to receive the award.

"Etihad Airways is not about being the biggest – it is about being the best. It has been a long road to success but we have shown it is possible to change the aviation landscape. I thank ATW for this award, the most highly-regarded in our industry,” Etihad Airways CEO James Hogan said, in response to the award.

In a reference to the ongoing spat between Gulf carriers and western competitors, ATW called Etihad Airways response "dignified and assured" and lauded the airline as an industry leader.

Recent winners of the award are Southwest Airlines (2015), Delta Air Lines (2014), ANA (2013), Air New Zealand (2012) and Emirates (2011).