China Airlines Ltd (CAL, 中華航空) yesterday said it would continue to renew its fleet, as the airline plans to develop new routes and enhance its overall performance.
Starting next year, CAL would lease at least one Airbus 350-900 passenger jet, receive five Airbus SE 321neo passenger aircraft and introduce three Boeing Co 777F cargo jets while accelerating the retirement of Boeing 747-400F cargo jets, it said in a document released following its earnings conference.
CAL is also expected to welcome the new Boeing 787 fleet from 2025 to 2028, it said.
Photo courtesy of China Airlines Ltd
The airline said it is optimistic that the global passenger market would continue its steady growth and expects load factors — which measure how much of an airline’s passenger carrying capacity is used — to stay at high levels.
The global passenger market is expected to surpass pre-COVID-19 pandemic levels next year, while the Asia-Pacific market would return to pre-pandemic levels in 2025, CAL said, citing forecasts by the International Air Transport Association.
CAL said that its passenger revenue has exceeded cargo revenue since the second quarter of this year, accounting for more than 60 percent of its total revenue.
“Passenger revenue over the first nine months of 2023 increased by 719.4 percent compared with the same period last year, with sales in Northeast Asia, Europe, North America and Oceania increasing significantly,” CAL said.
The airline said that its passenger capacity has reached 80 percent of pre-pandemic levels, with its long-haul route capacity having returned to 2019 levels.
Overall revenue has far exceeded pre-pandemic levels thanks to the addition of new flights to Prague and additional flights to San Francisco, it said.
CAL said that it carried nearly 432,000 tonnes of cargo in the first three quarters, leading its local peers with a 40.5 percent market share.
Cargo revenue in the first three quarters decreased 54.28 percent from the same period last year, but increased more than 30 percent compared with 2019, it said.
Cargo revenue is expected to rise this quarter, aided by continued destocking and signs of recovering demand, CAL said.
In the first three quarters, revenue increased 23.07 percent to NT$137.56 billion (US$4.36 billion).
Net profit surged 90.63 percent to NT$6.9 billion, or earnings per share of NT$1.15.
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