EVA Airways Corp (長榮航空) and China Airlines Ltd (CAL, 中華航空) on Monday reported high double-digit percentage growth in first-quarter revenue due to greater demand for air shipments and higher freight rates, the airlines said.
CAL said in a statement that its revenue last month grew 18 percent year-on-year to NT$12.3 billion (US$422.9 million) as cargo revenue rose 16.5 percent annually to NT$10.7 billion and passenger revenue rose 17 percent annually to NT$688 million amid relaxed border controls.
The airline’s cargo revenue surpassed NT$10 billion for the second consecutive month after totaling NT$12.7 billion in January, company data showed.
Photo: I-Hwa Cheng, Bloomberg
In the first quarter, CAL’s cargo revenue totaled NT$32.77 billion, up 36 percent from a year earlier, and its passenger revenue totaled NT$2.1 billion, up 6.3 percent year-on-year, corporate data showed.
CAL’s cumulative revenue rose 34 percent to NT$37.23 billion year-on-year, company data showed.
In the first quarter, EVA Air’s cumulative revenue increased 53 percent to NT$30 billion year-on-year, while cargo revenue increased 68 percent to NT$25.5 billion and passenger revenue fell 9.73 percent to NT$1.5 billion, company data showed.
CAL said the outlook for its cargo business remains upbeat as sea ports worldwide continue to experience congestion and other disruptions in sea transport have prompted customers to switch to air transport.
Market demand is expected to remain relatively high for shipments of semiconductors, auto components and e-commerce parcels, it said, adding that Russia’s invasion of Ukraine has increased demand in the European market.
Although Beijing began COVID-19 lockdowns in the middle of last month, freight volume to and from China dropped only mildly and rates remain stable, CAL added.
Tigerair Taiwan Ltd (台灣虎航), the nation’s only low-cost carrier, reported that its first-quarter revenue grew 110 percent to NT$110 million from a year earlier.
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