China Airlines Ltd (CAL, 中華航空) and EVA Airways Corp (長榮航空) on Monday reported record revenue for last month on the back of higher ticket prices and rising demand for air travel.
CAL’s revenue rose 42.13 percent year-on-year to NT$17.54 billion (US$560.03 million) last month, which was also 21.22 percent higher than the previous month.
CAL said the record revenue last month came as its passenger revenue totaled NT$12.25 billion, also the highest in a single month and eight times higher than a year earlier, as more tourists flew overseas during the four-day Dragon Boat Festival holiday.
Photo: Tony Yao, Taipei Times
By region, the airline reported rapid growth in demand for flights to northeast Asia and Oceania last month.
CAL said it has an upbeat outlook for the summer, as booking across all regions for this month and next month has surpassed 80 percent.
The airline would particularly focus on direct flights from Taiwan to North America and Europe, as these routes have a higher margin, it said.
CAL’s cargo revenue last month fell 58 percent year-on-year to NT$4.28 billion, as a global economic slowdown curbed demand for air shipping.
Cargo demand would likely stabilize in the second half of this year if inventory woes facing businesses end soon, it added.
In the second quarter, revenue rose 28.05 percent from a year earlier to NT$47.18 billion, 10.54 percent higher than the previous quarter, it said.
Cumulative revenue in the first half of the year was NT$89.88 billion, up 21.33 percent annually and the highest for the period, company data showed.
EVA Airways’ revenue last month surged 59.38 percent year-on-year and 11.89 percent month-on-month to NT$17.64 billion, the best monthly performance in the company’s history.
The airline attributed the results to robust passenger revenue, which surged 9.85-fold from a year earlier to NT$12.7 billion, or 16.94 percent higher than a month earlier.
The average load factors for Taiwan-to-US and Taiwan-to-Europe flights were above 90 percent last month, while flights between Taiwan and destinations in Southeast Asia, Hong Kong and Macau were above 80 percent, which were the main reasons for its robust growth in passenger revenue in the month, EVA said.
The airline’s second-quarter revenue came in at NT$48.61 billion, up 45.84 percent annually and 9.42 percent sequentially, hitting the highest level on a quarterly level, while its cumulative revenue in the first six months was NT$93.04 billion, up 46.69 percent from a year earlier, company data showed.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday obtained the government’s approval to inject an additional US$7.5 billion into its US subsidiary, the Department of Investment Review said in a statement. The department approved TSMC’s application of investing in TSMC Arizona Corp, which is engaged in the manufacturing, sales, testing and design of IC and other semiconductor devices, it said. The latest capital injection follows a US$5 billion investment for TSMC Arizona approved in June. The chipmaker has broken ground on two advanced fabs in Arizona with aggregated investments approved by the department totaling US$24 billion thus far. According to TSMC, the first Arizona
The lethal hack of Hezbollah’s Asian-branded pagers and walkie-talkies has sparked an intense search for the devices’ path, revealing a murky market for older technologies where buyers might have few assurances about what they are getting. While supply chains and distribution channels for higher-margin and newer products are tightly managed, that is not the case for older electronics from Asia where counterfeiting, surplus inventories and complex contract manufacturing deals can sometimes make it impossible to identify the source of a product, analysts and consultants say. The response from the companies at the center of the booby-trapped gadgets that killed 37
FRIENDLY TAKEOVER: While Qualcomm Inc’s proposal to buy some or all of Intel raises the prospect of other competitors, Broadcom Inc is staying on the sidelines Qualcomm Inc has approached Intel Corp to discuss a potential acquisition of the struggling chipmaker, people with knowledge of the matter said, raising the prospect of one of the biggest-ever merger and acquisition deals. California-based Qualcomm proposed a friendly takeover for Intel in recent days, said the sources, who asked not to be identified discussing confidential information. The proposal is for all of the chipmaker, although Qualcomm has not ruled out buying some parts of Intel and selling off others. It is uncertain whether the initial approach would lead to an agreement and any deal is likely to come under close antitrust scrutiny
SECURITY CONCERNS: The proposed ban on Chinese autonomous vehicle software and hardware would go into effect with the 2027 and 2030 model years respectively The US Department of Commerce today is expected to propose prohibiting Chinese software and hardware in connected and autonomous vehicles on US roads due to national security concerns, two sources said. US President Joe Biden’s administration has raised concerns about the collection of data by Chinese companies on US drivers and infrastructure as well as the potential foreign manipulation of vehicles connected to the Internet and navigation systems. The proposed regulation would ban the import and sale of vehicles from China with key communications or automated driving system software or hardware, said the two sources, who declined to be identified because the