China Airlines Ltd (CAL, 中華航空) yesterday reported record revenue of NT$16.92 billion (US$611.54 million) for last month, up 63.41 percent from a year earlier, aided by record cargo revenue of NT$15.43 billion amid the peak travel season, the airline said.
Cargo revenue was up 9.49 percent month-on-month and 71.39 percent year-on-year, the airline said.
“Demand for air shipping remained strong last month, leading to high freight rates and a high load-factor. It was the fifth consecutive month that our cargo revenue surpassed NT$10 billion since August,” it said in a statement.
Photo courtesy of China Airlines Ltd
The airline holds an upbeat outlook for the air cargo business in the first quarter, expecting demand to exceed supply, as congestion in sea ports worldwide remains severe and would not be solved in the short term, prompting companies to consider shipping their products by air, it said in the statement.
Such goods include semiconductor components, automobile components, consumer electronics and parcels from e-commerce platforms, it said.
Demand for shipping anti-virus devices and equipment is likely to rise in the first quarter, as many countries experience a surge in cases amid the spread of the Omicron variant of SARS-CoV-2, the airline added.
“While the demand for shipping goods to China and Hong Kong might cool during the Lunar New Year holiday, we plan to offset the effects by redirecting our focus to the Southeast Asian markets in that period,” CAL said.
The airline’s revenue from passenger services was NT$589 million last month, up 17.91 percent from November last year as the number of Taiwanese living abroad returning home before the Lunar New Year increased, it said.
Cumulative sales grew 20.25 percent to NT$138 billion last year, company data showed.
Rival EVA Airways Corp (長榮航空) yesterday reported annual revenue growth of 71 percent to NT$12.37 billion for last month, the highest since the outbreak of the COVID-19 pandemic, it said.
Its cargo revenue reached a record NT$10.99 billion last month, up 86 percent year-on-year, on the back of rising capacity after obtaining three new cargo jets.
EVA’s cumulative revenue for last year was NT$103.87 billion, up 16.65 percent from a year earlier, company data showed.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, has decided to slow down its 3-nanometer chip production as Intel Corp, one of its major customers, plans to push back the launch of its new Meteor Lake tGPU chipsets to the end of next year, market researcher TrendForce Corp (集邦科技) said yesterday. That means Intel has canceled almost all of the 3-nanometer capacity booked for next year, with only a small amount of wafer input remaining for engineering verification, the Taipei-based researcher said in a report. Based on Intel’s original schedule, TSMC was to start producing the new chipsets in
DATA SHOW DOWNTURN: Manufacturing in Taiwan contracted as production and demand slumped, while growth in chip exports last month eased in South Korea World chip sales growth has decelerated for six straight months in another sign that the global economy is straining under the weight of rising interest rates and mounting geopolitical risks. Semiconductor sales rose 13.3 percent in June from a year earlier, down from 18 percent in May, data from the global peak industry body showed. The slowdown is the longest since the US-China trade dispute in 2018. The three-month moving average in chip sales has correlated with the global economy’s performance in the past few decades. The latest weakness comes as concern about a worldwide recession has prompted chipmakers such as Samsung
‘NO NEED TO WORRY’: The central bank governor said foreign selling on the TAIEX is normal for this time of year and that the nation has ample forex reserves Taiwan would emerge unscathed from China’s retaliatory actions to protest US House of Representatives Speaker Nancy Pelosi’s visit to Taipei, top monetary and financial officials said yesterday. Central bank Governor Yang Chin-long (楊金龍) shrugged off unease over potential instability in the foreign exchange and stock markets after foreign portfolio funds trimmed their holdings of local shares for two straight days amid Beijing’s threats of retaliation. “There is no need to worry,” Yang said on the sidelines of an event to celebrate the first anniversary of the opening of Central American Bank for Economic Integration’s (CABEI) Taipei office and the 30th anniversary of
Italy is close to clinching a deal initially worth US$5 billion with Intel Corp to build an advanced semiconductor packaging and assembly plant in the country, two sources briefed on discussions said yesterday. Intel’s investment in Italy is part of a wider plan announced by the US chipmaker earlier this year to invest US$88 billion in building capacity across Europe, which is striving to cut its reliance on Asian chip imports and ease a supply crunch that has curbed output in the region’s strategic auto sector. Asking not to be named due to the sensitivity of the matter, the sources said the