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.
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