V Air (威航), a low-cost carrier that is part of the TransAsia Airways Group (復興航空集團), is to launch its maiden flight today from Taipei to Bangkok, with plans to operate between eight and 10 routes by the end of next year.
The carrier is to launch a chartered flight service to Siem Reap in Cambodia on Jan. 6 and start operating its second regular route to Thailand on Jan. 7, which will fly from Taipei to Chiang Mai.
TransAsia and V Air chairman Vincent Lin (林明昇) said that aside from its service network, the low-cost carrier also plans to expand its fleet, aiming to have five aircraft covering eight to 10 routes by the end of next year.
Photo: Lin Cheng-kung, Taipei Times
Lin said that routes to Northeast Asia, such as to major cities in Japan and South Korea, are V Air’s next potential market, with the company seeking to launch flights to destinations in that area in the first half of next year.
The expansion plan is aimed at helping V Air reach economies of scale and allow the airline to break even and start generating profit in 2016, Lin said.
The recent decline in global crude oil prices is also expected to contribute to the carrier’s profitability, he added.
Photo: Lin Cheng-kung, Taipei Times
The carrier is the second budget airline to start operating in the nation, after Tigerair Taiwan (台灣虎航) — a joint venture between China Airlines (中華航空) and Singapore’s Tiger Airways — began its flight service in September.
V Air chief executive Eleni Lung (隆章琪) forecasts that the budget airline’s average passenger loading factor for this month and next month would be 80 and 70 percent respectively, after the airline started receiving orders two weeks ago.
More than 80 percent of those orders have come from business-to-customer electronic commerce via its Web site, in line with the company’s expectations, Lung added.
In addition to route and fleet expansion, V Air plans to develop more merchandise either via an online store on PChome Online (PChome線上購物) or in-flight shopping, with the company aiming to make the sector’s sales account for 20 percent of its revenue 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