Aerospace Industrial Development Corp (AIDC, 漢翔航空工業), the largest civilian and military aircraft manufacturer in the nation, expects sales and profitability this quarter to improve from last quarter, in which the company recognized a large amount of human resources costs.
AIDC saw consolidated sales stand at NT$6.01 billion (US$197.92 million) in the third quarter of this year, an increase of 5.07 percent from a year earlier, according to the company’s stock exchange filing data.
However, the company might see momentum of both revenue and net income accelerate in the fourth quarter from the third quarter on the back of increased orders.
In addition, the company’s move to settle employees’ seniority in the third quarter, as a necessary step for its privatization, might lead to its one-time recognition of substantial costs, further impacting profitability.
AIDC, which held a shareholders’ conference yesterday, re-elected its board members with effectively an unchanged result, as the government remains the largest shareholder of the company.
AIDC chairman Jason Liu (劉介岑) and president Butch Hsu (徐延年) were both selected to continue their terms.
In related news, budget airline Tigerair Taiwan (台灣虎航) yesterday said it has received permission to operate regular routes to Thailand’s Bangkok and Chiang Mai, with the carrier scheduled to begin operations in the middle of next month.
The two routes are set to be the second and the third regular routes run by the carrier, following its daily flights to Singapore, which commenced on Sept. 26.
Tigerair Taiwan, a joint venture between Taiwan’s China Airlines Ltd (CAL, 中華航空) and Tiger Airways Pte of Singapore, has developed quicker than V Air (威航), the other low-cost carrier in Taiwan under planning, mainly on the back of CAL’s solid support.
V Air, a subsidiary of the TransAsia Airways Group (復興航空集團), is set to begin operations by the end of this year, with a similar plan to Tigerair Taiwan to launch routes to Bangkok and Chiang Mai.
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,”
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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
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