EVA Airways Corp (EVA, 長榮航空), the nation’s second-largest carrier, saw consolidated sales last month mark their highest level in its history, buoyed by strong seasonal demand in the passenger sector and a gradually recovering cargo business.
EVA’s revenue was NT$11.69 billion (US$391.39 million) last month, up 5.41 percent from a year earlier and 3.6 percent from a month earlier, according to the company’s financial data.
For the first eight months of the year, consolidated sales totaled NT$82.35 billion, an increase of 1.91 percent from the same period last year, company data showed.
VACATION
The carrier’s sales performance last month was led by strong passenger demand during the summer vacation period and fell in line with market expectations, while sales in its cargo business showed improvement from July, ending the sequential declines posted in the previous two months.
“Traditionally, airlines see sales and profitability reach their annual peak level in the third quarter,” Capital Securities Corp (群益證券) said in its latest research note.
The rebounding passenger business also led to higher consolidated revenue for China Airlines Ltd (CAL, 中華航空) last month.
CAL, the nation’s largest airline, posted NT$13.03 billion in sales last month, 1.95 percent higher than in the same month a year earlier and 1.2 percent higher than in July, the company said in its stock exchange filing.
CAL’s sales in the first eight months of the year were NT$93.12 billion, down 1.84 percent from a year earlier.
However, Capital Securities said China’s new tourism law, which will take effect in less than a month, could result in uncertainties for Taiwanese airlines in the fourth quarter.
FEARS
The new law will bar tour operators from earning commission on shoppers taking low-cost tours, fueling fears that the cost of visiting Taiwan will rise and reduce demand, stemming the flow of Chinese tourists into Taiwan in the short term, the brokerage said.
Meanwhile, TransAsia Airways (TNA, 復興航空), which focuses on regional passenger business in Asia, saw its consolidated sales reach NT$1.17 billion last month, up 21.67 percent from a year earlier, company data showed.
The NT$1.17 billion generated last month marked the second-highest level in history for TNA, but was lower than the record-high revenue of NT$1.26 billion the carrier recorded in July, statistics showed.
STRATEGY
For the first eight months, TNA’s sales were NT$8.18 billion, rising by 21.67 percent on an annual basis, on the back of the company’s strategy to launch various regional routes this year.
The carrier yesterday said it would start providing non-stop chartered flights between Taoyuan and the Angkor region in Cambodia from Sept. 23, and hoped to offer three regular round-trip flights each week on Airbus A321 aircraft in the future.
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RSS