EVA Airways Corp (長榮航空) saw its revenue drop by more than half last month for a seventh straight month as passenger traffic amid the COVID-19 pandemic, while China Airlines Ltd (CAL, 中華航空) posted a milder decline as it increased its focus on cargo operations.
EVA’s revenue for last month totaled NT$5.9 billion (US$203.79 million), down 58 percent from a year earlier, as a 96 percent gain in cargo revenue to NT$4.27 billion failed to offset a 90 percent plunge in passenger revenue to NT$700 million, company data released on Tuesday showed.
EVA’s revenue has dropped annually for nine months in a row, with the rate of decline surpassing 50 percent since March, data showed.
Photo: Cheng I-hwa, Bloomberg
Passenger revenue accounted for merely 13 percent of EVA’s overall revenue last month, down from 79 percent in January, leading the airline to shift its focus to cargo operations.
“The cargo business remains rosy, thanks to rising freight rates,” an EVA official told the Taipei Times by telephone yesterday. “Although we have only five Boeing 777 jets, our cargo capacity increased, as we used our empty passenger jets for cargo operations.”
EVA carried 64,876 tonnes of goods last month, up 31 percent from 49,382 tonnes in January, it said.
CAL’s revenue last month plunged 31 percent year-on-year to NT$8.85 billion, company data showed.
The carrier had reported annual drops of 24 to 44 percent in the previous eight months, the data showed.
Cargo revenue soared 103 percent year-on-year to NT$7.2 billion last month, which was 1.7 times that of EVA’s, as CAL has 18 Boeing 747-400F cargo jets, which helped it seize more orders.
Its air cargo load factor rose to 72.2 percent last month, from 64 percent in January, data showed.
For the first nine months of the year, EVA’s revenue fell 49 percent to NT$67 billion, while CAL’s slid 32 percent to NT$85 billion, data showed.
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