EVA Airways Corp (長榮航空) is offering partial pay to encourage its ground personnel to take personal leave from this month, in its latest effort to mitigate the financial impact from plunging passenger traffic due to the COVID-19 pandemic.
The carrier announced the program on Tuesday, allowing ground crew members to receive one day’s pay, including base salary and bonus, but excluding meal and transportation allowances, for three days of personal leave.
EVA Air will pay three days of salary at the maximum based on the program, encouraging its staff to take up to 14 days of personal leave per month, it said in a statement.
“As the pandemic has beaten the air travel industry and most of our flights have been canceled, we encourage our staff to take as much personal leave as possible,” a communication officer, surnamed Lin (林), told the Taipei Times by telephone.
While most local companies do not pay for personal leave, EVA decided to pay for part of those days off to help ease workers’ financial concerns, Lin said.
“We hope this will be a win-win solution. The company’s financial burden will be alleviated, while the staff will still have partial income while taking leave,” Lin said.
While Ministry of Labor statistics showed that the number of local workers on unpaid leave had reached 18,265 as of Thursday, Lin said EVA is different from those companies, as it only encourages staff to take personal leave.
Some EVA flight attendants have complained that they should also be able to join the program, but flight attendants already enjoy some benefits that ground staff do not have, such as up to 10 days of paid leave per month, Lin said.
Rival China Airlines Ltd (CAL, 中華航空) earlier this week announced that it was cutting salaries for staff and management by 15 to 25 percent to weather the crisis.
Shares of EVA dropped 1 percent to NT$9.90 in Taipei trading yesterday, while those of China Airlines edged down 0.14 percent to NT$7.03.
Taiwan’s foreign exchange reserves hit a record high at the end of last month, surpassing the US$600 billion mark for the first time, the central bank said yesterday. Last month, the country’s foreign exchange reserves rose US$5.51 billion from a month earlier to reach US$602.94 billion due to an increase in returns from the central bank’s portfolio management, the movement of other foreign currencies in the portfolio against the US dollar and the bank’s efforts to smooth the volatility of the New Taiwan dollar. Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民)said a rate cut cycle launched by the US Federal Reserve
Handset camera lens maker Largan Precision Co (大立光) on Sunday reported a 6.71 percent year-on-year decline in revenue for the third quarter, despite revenue last month hitting the highest level in 11 months. Third-quarter revenue was NT$17.68 billion (US$581.2 million), compared with NT$18.95 billion a year earlier, the company said in a statement. The figure was in line with Yuanta Securities Investment Consulting Co’s (元大投顧) forecast of NT$17.9 billion, but missed the market consensus estimate of NT$18.97 billion. The third-quarter revenue was a 51.44 percent increase from NT$11.67 billion in the second quarter, as the quarter is usually the peak
The US government on Wednesday sanctioned more than two dozen companies in China, Turkey and the United Arab Emirates, including offshoots of a US chip firm, accusing the businesses of providing illicit support to Iran’s military or proxies. The US Department of Commerce included two subsidiaries of US-based chip distributor Arrow Electronics Inc (艾睿電子) on its so-called entity list published on the federal register for facilitating purchases by Iran’s proxies of US tech. Arrow spokesman John Hourigan said that the subsidiaries have been operating in full compliance with US export control regulations and his company is discussing with the US Bureau of
Pegatron Corp (和碩), a key assembler of Apple Inc’s iPhones, on Thursday reported a 12.3 percent year-on-year decline in revenue for last quarter to NT$257.86 billion (US$8.44 billion), but it expects revenue to improve in the second half on traditional holiday demand. The fourth quarter is usually the peak season for its communications products, a company official said on condition of anonymity. As Apple released its new iPhone 17 series early last month, sales in the communications segment rose sequentially last month, the official said. Shipments to Apple have been stable and in line with earlier expectations, they said. Pegatron shipped 2.4 million notebook