China Airlines Ltd (中華航空) and its labor union on Thursday reached an agreement to distribute year-end bonuses of an average of six months wages, the best bonus distributed in the company’s 62-year history.
The airline is also to raise wages by at least 4 percent, matching salary increases for the nation’s teachers, military personnel and civil servants, the union said in a statement.
As the airline last year posted profit thanks to its booming air cargo business, the company would distribute generous bonuses, the union said.
Photo courtesy of China Airlines via CNA
With 21 cargo jets, China Airlines is the largest provider of air cargo services in Taiwan.
The company reported cumulative net profit of NT$1.55 billion (US$55.98 million) for the first three quarters of last year, compared with a net loss of NT$2.02 billion in the same period of 2020, the union said.
During the first 11 months of last year, revenue grew 16 percent annually to NT$121.94 billion, corporate data showed.
This year, the airline plans to continue focusing on its air cargo business, but would also try to boost its passenger business, the company said in a statement.
Separately, EVA Airways Corp (長榮航空) did not verify local media reports that it had agreed to distribute year-end bonuses of as high as about 1.5 months’ wages, but said that employees would receive bonuses based on their work performance.
EVA reported a cumulative net loss of NT$569 million in the first three quarters of last year, improving from a net loss of NT$3.64 billion in the same period of 2020, corporate data showed.
With seven cargo jets, EVA has a lower cargo capacity than China Airlines, and generated less revenue from its air freight business, data released by the two firms showed.
For the first 11 months of last year, EVA’s sales grew 11.8 percent to NT$91.5 billion, corporate data showed.
China Airlines’ share price fell 1.46 percent to NT$27 in Taipei trading yesterday, while EVA’s share price dipped 1.1 percent to NT$27, Taiwan Stock Exchange data showed.
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