Singapore Airlines Ltd, Asia's biggest carrier by market value, plans to fly almost 90 percent of its capacity as increased travel demand prompts it to restore flights canceled during the SARS outbreak. \nThe airline cut 30 percent of its capacity, a measurement of the seats available and distance flown, between April and last month after the passengers it carried fell by as much as three-fifths. \n"As demand comes back, we have begun to put some of our flights back," Singapore Air Chairman Koh Boon Hwee said at a shareholder meeting. "Going forward, compared to the pre-SARS period, it's likely we'll still be in the range of between 12 and 15 percent down [in capacity] for the foreseeable future." \nSingapore Air, Cathay Pacific Airways Ltd and other Asian carriers are starting to recover from the slump caused by SARS, which led to the cancelation of 1,150 weekly flights at the peak of the outbreak. \nSingapore Air had an operating loss of S$370 million (US$211 million) for April and May. \nThe airline can't determine when all of its capacity would be operating, Koh said. The carrier cut ticket prices by as much as half to lure travelers back. \nHong Kong's Cathay Pacific last month said it will probably resume a full flight schedule by the end of September. \nSingapore Air today passed a resolution removing limits on the number of share options it can give to senior executives. \nIt won 64 percent of the votes on the resolution, which also led to comments by some shareholders who wanted to remove the award of stock options, or to attach performance-related conditions to the award. \nFormer stock broker Narayana Narayana said a rising stock market can reward management and employees, helping them to exercise and sell their options at a profit, even though their performance doesn't merit it. \nKoh also reiterated that the airline is still considering whether it wants to start its own no-frills carrier. \nSingapore Air is conducting a feasibility study to combat low-priced competition from Malaysia's Air Asia and Australia's Virgin Blue Airlines.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
ROW: A probe would determine if the rights of shareholders who were not allowed to vote yesterday had been violated, while the stock exchange also wants answers The election of board directors yesterday at Tatung Co (大同) sparked controversy after the company blocked some institutional and individual shareholders from participating in the general shareholders’ meeting, prompting the Financial Supervisory Commission (FSC) to announce that the vote would be investigated. Lin Kuo Wen-yen (林郭文艷) was re-elected as chairwoman of the household-appliance maker’s nine-member board, but prior to the vote she announced that several shareholders would not have voting rights. They were being denied a vote because they had contravened the Business Mergers and Acquisitions Act (企業併購法), and the Act Governing Relations Between the People of the Taiwan Area and