Starlux Airlines Co (星宇航空), which is being set up by former EVA Airways Corp (長榮航空) chairman Chang Kuo-wei (張國煒), is to apply later this month for a business license in Taiwan, a spokesman for the start-up said on Sunday.
Starlux is awaiting a permit from the Ministry of Transportation and Communications to establish an air transport company, after which it is to apply with the Civil Aeronautics Administration for an air operator certificate, company spokesman Nieh Kuo-wei (聶國維) said.
Since the company set up an office in Taipei’s Neihu District (內湖) in August last year, it has recruited more than 100 employees, he said.
Starlux hopes to start commercial airline services in 2020, operating on several short routes to Southeast and Northeast Asia, before introducing long-haul routes to the US, he added.
The company is to operate a fleet of 14 new singe-aisle Airbus SE A320neo aircraft and 10 wide-body airliners, which it plans to rent for the first six years of operations, Nieh said.
The rental contract for the A320s is to be signed in the first half of this year, he said.
The plan to establish StarLux was announced in 2016 by Chang, the youngest son of Chang Yung-fa (張榮發), the late business tycoon who founded Taiwanese transportation conglomerate Evergreen Group (長榮集團).
At the time of the announcement, the nation’s laws required a business to have at least five years operational experience in international transportation or commerce before it could be eligible to apply for an air operator certificate.
However, on Thursday last week the Regulations of Civil Air Transport Enterprise (民用航空運輸業管理規則) were amended to make it easier to establish a new airline in Taiwan, although the new rules require aspiring businesses to have funding of at least NT$6 billion (US$204.9 million) and a minimum paid-in capital of NT$4 billion before they can gain approval to operate scheduled or nonscheduled air carrier services on international routes.
SECOND-RATE: Models distilled from US products do not perform the same as the original and undo measures that ensure the systems are neutral, the US’ cable said The US Department of State has ordered a global push to bring attention to what it said are widespread efforts by Chinese companies, including artificial intelligence (AI) start-up DeepSeek (深度求索), to steal intellectual property from US AI labs, according to a diplomatic cable. The cable, dated Friday and sent to diplomatic and consular posts around the world, instructs diplomatic staff to speak to their foreign counterparts about “concerns over adversaries’ extraction and distillation of US AI models.” Distillation is the process of training smaller AI models using output from larger, more expensive ones to lower the costs of training a powerful new
Shares of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) have repeatedly hit new highs, but an equity analyst said the stock’s valuation remains within a reasonable range and any pullback would likely be technical. The contract chipmaker’s historical price-to-earnings (P/E) ratio has ranged between 20 and 30, Cathay Futures Consultant Co (國泰證期) analyst Tsai Ming-han (蔡明翰) told Central News Agency. With market consensus projecting that TSMC would post earnings per share of about NT$100 (US$3.17) this year, supported by strong global demand for artificial intelligence (AI) applications, and the stock currently trading at a P/E ratio of below 25, Tsai said the valuation
The artificial intelligence (AI) boom has triggered a seismic reshuffling of global equity markets, with Taiwan and South Korea muscling past European nations one by one. With its stock market now valued at nearly US$4.3 trillion, Taiwan surpassed the UK, Europe’s biggest market, earlier this month, data compiled by Bloomberg showed. South Korea is about US$140 billion away from doing the same. The tech-heavy Asian markets have shot past Germany and France in the past seven months. The shift is largely down to massive gains in shares of three companies that provide essential hardware for AI: Taiwan Semiconductor Manufacturing Co (TSMC, 台積電),
The US Department of Commerce last week ordered multiple chip equipment companies to halt shipments of certain tools to China’s second-largest chipmaker, Hua Hong Semiconductor Ltd (華虹半導體), its latest action to slow the country’s development of advanced chips, two people familiar with the matter said. The department sent letters to at least a handful of companies informing them of restrictions on tools and other materials destined for two Hua Hong facilities US officials believe make China’s most sophisticated chips, the people said. Top US chip equipment companies Lam Research Corp, Applied Materials Inc and KLA Corp, each of which has significant