Starlux Airlines Co (星宇航空) yesterday reported a net loss of NT$1.56 billion (US$51.22 million) for last quarter, widening from NT$1.44 billion in the previous quarter, as its operational costs rose on receiving new aircraft.
That brought the airline’s net losses in the first three quarters of the year to NT$4.22 billion, with accumulated net losses totaling NT$11.16 billion since its establishment in May 2018.
Revenue in the first three quarters was NT$1.77 billion, up 183 percent from a year earlier, after third-quarter revenue grew at a faster pace than in the first half of this year amid the peak travel season and eased border controls, the airline said in a statement.
Photo courtesy of StarLux Airlines Co
Third-quarter revenue grew by nearly threefold from a year earlier to about NT$760 million, with passenger revenue soaring 527 percent to NT$439 million and cargo revenue rising 169 percent to NT$290 million, it said.
Starlux expects passenger revenue to continue growing this quarter, as it is set to increase weekly flights from Taiwan to Tokyo and Osaka by about 30 percent this month, it said.
As demand for air freight has slowed, the airline plans to use its wide-body planes on the routes with comparatively high freight volume to retain revenue growth, it said.
To satisfy demand for air travel during the Lunar New Year holiday next month, the airline plans to offer more flights from Taiwan to Macau and Bangkok.
Starlux also plans to offer new flights from Taiwan to Hanoi and the Philippines’ Cebu City.
That would increase the airline's weekly flights by 10 percent, it said.
Starlux hopes to become profitable next year on a fast rebound in market demand for air travel, while the airline aims to erase its accumulated losses in five years, it said.
Separately, budget airline Tigerair Taiwan Ltd (台灣虎航) yesterday said that it would recruit an estimated 200 cabin crew and ground staff, who are expected to start working in the first half of next year.
China Airlines Ltd (中華航空) also announced that it plans to hire about 100 ground staff at Taiwan Taoyuan International Airport and customer service representatives in Taipei in anticipation of an upcoming travel boom.
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