Low-cost carrier Tigerair Taiwan Ltd (台灣虎航) yesterday said its operating performance this year would be better than last year’s on the back of an increase in passenger flights and the addition of new routes.
The airline, a subsidiary of China Airlines Ltd (CAL, 中華航空), said that it would strive to distribute dividends to shareholders beginning next year, as it is scheduled to begin trading on the main bourse by the end of this year.
Tigerair’s shares are listed on the Taiwan Stock Exchange’s Taiwan Innovation Board, on which they rose 1.78 percent to NT$68.70 yesterday.
Photo: CNA
“Tigerair Taiwan aims to continue surpassing itself ... and let’s wait and see what’s next,” Tigerair chairman Kevin Chen (陳漢銘) told a news conference in Taipei.
Established in 2014 as a joint venture between Singapore-based Tiger Airways Ltd and CAL before becoming a wholly owned subsidiary of CAL in 2017, Tigerair offers flights to 28 destinations in Asia on 41 routes.
With its fleet of 15 Airbus 320s, the airline has launched 14 new routes amid a global tourism boom in the post-COVID-19 pandemic era, Tigerair said in a statement.
The launch of a new route between Taoyuan and Miyazaki, Japan, on Nov. 26 would mark the airline’s 20th destination in Japan, Tigerair said, adding that it has the most flights to Japan and South Korea among Taiwanese carriers.
Due to the surge in the number of people traveling abroad and the increase in overseas destinations after the pandemic, Tigerair’s cumulative revenue from January to September this year was NT$12.64 billion (US$395.4 million), an annual increase of 39.65 percent and surpassing its revenue of NT$12.47 billion for the whole of last year.
The airline posted net profit of NT$2.48 billion in the first three quarters, the most for the period in its history, or earnings per share of NT$5.52, up from NT$3.17 in the same period last year.
Gross margin and operating margin improved to 32 percent and 26 percent respectively in the first three quarters, the airline said.
With the arrival of maple leaf viewing, skiing, and the Christmas and New Year holidays in Japan and South Korea, the tourism market would remain strong this quarter, Tigerair said.
The airline would continue adding new destinations and routes to serve customers, it said.
International travel demand last year had almost returned to pre-pandemic levels and global passenger demand might grow 3.8 percent this year, the International Air Transport Association said.
The Asia-Pacific region is seen as a key market for further demand growth, the association said.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
RSS