China Airlines Ltd (CAL, 中華航空) on Friday posted its highest first-quarter net profit, which it attributed strong travel demand during the Lunar New Year holiday and the winter vacation.
The airline recorded a net profit of NT$4.66 billion (US$153.75 million) in the January-to-March period, a 36.54 percent year-on-year increase, with earnings per share rising from NT$0.51 a year earlier to NT$0.69, CAL said in a statement.
CAL said it generated NT$52.77 billion in consolidated sales, up from NT$48.65 billion a year earlier.
Photo courtesy of China Airlines Ltd
The boom in passenger flights in the post COVID-19 era also continued into the quarter, with passenger revenue reaching NT$32.69 billion, up 12.3 percent from the previous quarter, it said.
CAL said that it plans to capitalize on the expected strong demand during summer vacation by increasing the number of round-trip flights to destinations such as Takamatsu and Kagoshima in Japan, Seoul and Busan in South Korea, Vienna, Jakarta and Ho Chi Minh City.
The airline currently provides the most number of flights to Europe and Australia among Taiwanese carriers.
Meanwhile, CAL said that revenue from cargo services rose 27.46 percent year-on-year to NT$15.69 billion, boosted by its expanded services to meet the growing demand for air cargo services.
In response to the US’ new tariffs, CAL said it has adjusted its cargo flight schedules, while optimizing its cargo flight portfolio in a bid to enhance competitiveness and maintain the bottom line of its cargo operations.
CAL said it last week signed an agreement to purchase at least 14 Boeing Co 777X jets — 10 777-9 passenger jetliners and four 777-8F freighters — and that it has the option to buy an additional nine Boeing aircraft.
It expects the delivery of its first Boeing 777X aircraft in 2030, it said.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
Hong Kong authorities ramped up sales of the local dollar as the greenback’s slide threatened the foreign-exchange peg. The Hong Kong Monetary Authority (HKMA) sold a record HK$60.5 billion (US$7.8 billion) of the city’s currency, according to an alert sent on its Bloomberg page yesterday in Asia, after it tested the upper end of its trading band. That added to the HK$56.1 billion of sales versus the greenback since Friday. The rapid intervention signals efforts from the city’s authorities to limit the local currency’s moves within its HK$7.75 to HK$7.85 per US dollar trading band. Heavy sales of the local dollar by
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
RSS