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.
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