EVA Airways Corp (長榮航空) yesterday said its average ticket prices rose by a more-than-expected 50 percent in the first quarter of this year, compared with before the COVID-19 pandemic.
EVA Airways president Clay Sun (孫嘉明) attributed the increase to robust demand for long-haul flights, as well as business-class and premium-economy-class seats, as consumers embraced air travel following the easing of border controls.
Sun made the remarks during the company’s annual shareholders’ meeting.
Photo: Wang Yi-hung, Taipei Times
The number of flights operated by EVA has returned to 75 percent of pre-pandemic levels and might rise to 80 percent next quarter, the airline said.
The number of flights it operates to Europe has surpassed the pre-pandemic level, while those to the Americas and Southeast Asia are still recovering, it said.
EVA expects its revenue this quarter to grow further, after increasing 47 percent annually last quarter to NT$44.42 billion (US$1.44 billion), Sun said.
“Summer vacation will be peak season for the passenger business. We have seen strong bookings for long-haul flights from Taiwan to Europe and the US in July,” he said.
“The booking rate for flights in July has risen to 70 percent. We expect the number to climb to 90 percent in July and August,” he added.
Speaking about the cargo business, Sun said that freight rates have bottomed out.
Demand would rebound if central banks slow down their rate hikes, he said.
EVA shareholders approved a proposal to distribute a cash dividend of NT$0.8 per share.
EVA Airways chairman Steve Lin (林寶水) was re-elected as a board member and chairman, a corporate filing showed.
EVA reported net earnings of NT$4.49 billion in the first quarter, the highest of all time, or earnings per share of NT$0.84, corporate data showed.
Taiwan Semiconductor Manufacturing’s (TSMC, 台積電) first wafer fab in Kumamoto, Japan is still set to launch commercial production in the fourth quarter of this year as planned, the world’s largest contract chipmaker said on Saturday in response to reports that mass production might begin ahead of schedule. TSMC said the monthly production capacity of the joint venture fab, Japan Advanced Semiconductor Manufacturing (JASM), is expected to hit 55,000 units of 12-inch wafers, using the mature 12-nanometer, 16-nanometer, 22-nanometer and 28-nanometer processes. JASM is owned by TSMC and its Japanese business partners Sony Semiconductor Solutions Corp and Denso Corp, with the Taiwanese company
US President Joe Biden’s administration is in talks to confer more than US$10 billion in subsidies to Intel Corp, people familiar with the matter said, in what would be the largest award yet under a plan to bring semiconductor manufacturing back to US soil. Intel’s award package is expected to include both loans and direct grants, the source said. They stressed that negotiations are still under way. The US Department of Commerce and Intel declined to comment. The incentives would come from the 2022 Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, which set aside US$39 billion in direct grants as
German automaker Volkswagen (VW) on Wednesday said that it was discussing the future of its activities in China’s troubled Xinjiang region, following fresh allegations of human rights abuses. The Handelsblatt daily reported that forced labor might have been used to build a test track in Turpan, Xinjiang, in 2019. VW said it had seen no evidence of human rights violations in connection with the project, but vowed to investigate any new information that came to light. In an apparent sign of the growing pressure on the group over its presence in the region, VW added that it was in talks with its Chinese
A new artificial intelligence (AI) tool that promises to create short videos from simple text commands has raised concerns along with questions from artists and media professionals. OpenAI, the creator of ChatGPT and image generator DALL-E, on Thursday said it was testing a text-to-video model called “Sora” that can allow users to create realistic videos with simple prompts. The San Francisco-based start-up said that Sora can “generate complex scenes with multiple characters, specific types of motion, and accurate details of the subject and background,” but added that it still has limitations, such as possibly “mixing up left and right.” Examples of Sora-created clips