EVA Airways Corp’s (長榮航空) board of directors on Friday approved the purchase of a new Boeing Co 777F freighter jet, the airline’s latest effort to boost its cargo capacity after acquired three 777Fs last year.
EVA, which has eight Boeing 777F aircraft, is scheduled to receive its newest addition by the end of next year, it said in a statement.
The plane is to cost about US$417 million, it said.
Photo courtesy of EVA Airways Corp
“The decision [for the purchase] was made because of growth in demand for air cargo, and thus we hope to raise our freight capacity to improve competitiveness and our ability to handle risk,” EVA president Clay Sun (孫嘉明) said.
Sun cited Boeing’s forecast that the compound annual growth rate in the air freight market over the next 20 years would be 4 to 4.6 percent, while the global cargo fleet in 2040 would be 70 percent greater than prior to the COVID-19 pandemic because of sustained demand tied to the expansion of e-commerce and air freight.
“We would also consider next-generation cargo planes for our long-term flight network plans. We hope to adjust our freight network and capacity more flexibly to meet market demand,” Sun said.
EVA has hired Israel Aerospace Industries Ltd to convert three Boeing 700-300ER passenger jets into cargo planes in 2025, bringing the airline’s cargo fleet to 12, Sun said.
EVA in 2020 canceled orders for seven Boeing 787-10 Dreamliner passenger jets, replacing them with orders for three 777F cargo aircraft and four smaller 787-9 passenger jets, it said, adding that it received the cargo planes last year.
EVA reported NT$30.09 billion (US$1.01 billion) in revenue in the first quarter of the year, up 52.9 percent from a year earlier on the back of robust cargo demand. On a quarterly basis, revenue declined 12 percent, company data showed.
The airline posted net profit of NT$3.35 billion in the first three months, compared with net losses of NT$2.2 billion in the same period last year, when passenger revenue plummeted due to pandemic-related border controls.
Earnings per share were NT$0.64 last quarter, compared with losses per share of NT$0.45 a year earlier, data showed.
This week’s undoing of the TerraUSD algorithmic stablecoin and its sister token, Luna, has ramifications for all of crypto. First, there is the immediate impact: The rapid collapse of a once-popular pair of cryptocurrencies sent a ripple effect across the industry, contributing to plummeting coin prices that wiped hundreds of billions of market value from the digital-asset market and stoked worries over the potential fragility of digital-asset ventures. Then there are the knock-on effects. In addition to delivering punishing losses to individual users and investment firms, the spectacular failure of a market darling like Terra threatens to have a cooling effect
China’s biggest chipmaker has cut its outlook for the second quarter, joining a growing list of manufacturers warning about the fallout from lockdowns aimed at containing the country’s worst COVID-19 outbreak in two years. Semiconductor Manufacturing International Co (SMIC, 中芯) estimates a month-long lockdown in Shanghai could spur component shortages and logistics tangles, and erase about 5 percent of its output in the second quarter. “We are trying our best to mitigate the impact on product delivery,” SMIC Chairman Gao Yonggang (高永崗) told analysts on a call yesterday morning. “We are still assessing the actual impact as many suppliers restart their
DISRUPTIONS: The war in Ukraine, China’s lockdown measures, rising interest rates and inflation have thrown a wrench into business plans made years in advance Samsung Electronics Co is talking with foundry clients about charging as much as 20 percent more for making semiconductors this year, joining an industry-wide push to hike prices to cover rising costs of materials and logistics. Contract-based chip prices are likely to rise around 15 percent to 20 percent, depending upon the level of sophistication, people familiar with the matter said. Chips produced on legacy nodes would face bigger price hikes, while new pricing would be applied from the second half of this year, they said, adding that Samsung has finished negotiating with some clients and is in discussions with others. Samsung’s decision
material SHORTAGE: Even as workers are about to return, Quanta lacks operating supplies, while Pegatron reported its lowest revenues in 11 quarters, the companies said Taiwan’s major Apple Inc supplier cut its outlook for the second quarter, joining a growing list of manufacturers warning about the fallout from lockdowns aimed at containing China’s worst COVID-19 outbreak in two years. Quanta Computer Inc (廣達電腦), which assembles MacBooks, expects a 20 percent quarterly fall in notebook shipments and a squeeze on margins this quarter due to the lockdown, a company representative said on Friday during an earnings call. The impact from supply chain disruptions could last until the end of the year, she said. The company’s Shanghai factory has been operating under tight restrictions since the middle of last month,
RSS