Tourism and transportation shares yesterday bore the brunt of the TAIEX’s decline as the terrorist attacks in Paris on Friday dampened travel interest to the French capital, while airlines and travel agencies introduced plans for refunds or destination changes.
Transportation stocks closed down 2.37 percent while tourism plays dropped 1.06 percent, deeper than the TAIEX’s 0.4 percent fall, Taiwan Stock Exchange data showed, making them the biggest loser in the slump.
“The tragedy is to have an unfavorable impact on European tours in the short term, as travelers would shun Paris, but might regain interest once the situation stabilizes,” Formosa Tours Co (台華旅行社) sales director Julia Chu (朱麗卿) said by telephone.
The city is a popular destination for Taiwanese, attracted by sites such as the Eiffel Tower and the Palace of Versailles, Chu said, adding that French cuisine, wines and brands also carry appeal.
Shares in EVA Airways Corp (EVA, 長榮航空), the nation’s second-largest carrier, dropped 5.41 percent after more than 50 Paris-bound passengers postponed or canceled their flights, the company said.
EVA allowed passengers to rebook or cancel their flights without additional charges after the Ministry of Foreign Affairs issued a yellow alert for Paris, the second-highest of a four-tier warning system, asking people to pay special attention to personal safety or to reconsider travel plans.
Shares of Lion Travel Service Co (雄獅旅行社) and Phoenix Tours International Inc (鳳凰國際旅行社) fell 4.6 percent and 2.38 percent respectively after the two leading travel agents announced refund plans for Paris tours.
“The disruption is limited and bearable because winter is a low season for long-distance overseas trips,” Lion Travel chief financial officer Sam Huang (黃玄騰) said.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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