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EVA, CAL expected to see robust profit expansion this year
STAFF WRITER, WITH CNA
Sunday, Apr 08, 2007, Page 11
The nation's two largest air carriers are expected to see robust profit growth as fuel price pressure eases, analysts predicted yesterday.
Both China Airlines Ltd (CAL, 中華航空) and EVA Airways Corp (長榮航空) reported lackluster performance last year on the back of soaring oil prices, although fuel price pressures began to ease in the fourth quarter.
EVA Airways' revenue for last year totaled NT$93.9 billion (US$2.84 billion), up 6 percent from the previous year.
EVA, the nation's second-largest air carrier, reported a pre-tax profit of NT$650 million in the fourth quarter, compared with a loss of NT$1.47 billion in the third quarter.
It reported an after-tax net loss of NT$1.68 billion last year, which was less than expected.
CAL, the largest air carrier, reported revenue of NT$121.99 billion last year, up 12 percent from the previous year. After-tax net profit was NT$738 million, up 14.43 percent over the previous year.
Analysts estimated that EVA's revenue would be NT$92.14 billion this year, with a pre-tax net profit of NT$1.09 billion, while CAL is expected to register an annual profit of NT$2.08 billion.
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