Taipei-China Airlines (CAL, ??) and EVA Airways (EVA Air, ???), Taiwan's two leading international carriers, reported Monday an improved bottom line for the second quarter of this year, when their passenger flights were boosted by rising demand and recovering ticket prices.
CAL said that its net profit for the April-June period stood at NT$1.76 billion (US$58.09 million), improving from a net loss of NT$3.76 billion in the previous quarter. CAL's earnings per share (EPS) for the second quarter hit NT$0.32, compared with NT$0.69 in loss per share seen in the first quarter.
According to CAL, the carrier's consolidated sales for the second quarter rose 6.59 percent from a quarter earlier to NT$38.16 billion.
The carrier said that its cargo transportation also showed signs of improvement in the second quarter.
Despite the better second quarter, CAL said, it still incurred NT$1.999 billion in net losses for the first half of this year, due to massive losses seen in the first quarter caused by asset impairment the carrier registered. Its loss per share for the six- month period was NT$0.37.
For its part, EVA Air posted NT$1.578 billion in net profit in the second quarter, an improvement from NT$739 million in net loss seen a quarter earlier, with EPS at NT$0.39, compared with NT$0.18 in loss per share in the first quarter.
EVA Air said that its consolidated sales for the second quarter rose 5.61 percent from a year earlier to NT$40.2 billion, on the back of an increase in the number of flights to North America and Southeast Asia during the three-month period.
The carrier said that the number of passengers it carried in the second quarter rose about 10 percent from a year earlier, while the cargo volume for the second quarter also grew 5.3 percent from a year earlier.
In addition to the increase in flights to North America and Southeast Asia, EVA Air said that the passenger numbers on its flights to Japan were boosted by a weaker Japanese yen, which encouraged more consumers to visit the country, as well as more options for travel packages.
In the first half of this year, EVA Air posted NT$839 million in net profit, down 63.5 percent from a year earlier, with NT$0.21 in EPS, compared with NT$0.60 in EPS over the same period of last year.
Bucking the heavy downturn on the broader market, shares of CAL gained 1.41 percent to close at NT$9.34, and shares of EVA Air gained 1.38 percent to end at NT$14.65 on Friday, when the weighted index on the Taiwan Stock Exchange ended down 1.01 percent, led by the bellwether electronics sector.
Source: Focus Taiwan News Channel