China Airlines Ltd (CAL, 中華航空) and EVA Airways Corp (長榮航空) yesterday reported high double-digit percentage growth in revenue last month on the back of booming cargo business.
CAL, which has 21 cargo jets, saw its freight revenue grow 68 percent annually to NT$12.7 billion (US$455.64 million) last month, which mitigated an annual drop of 23 percent in passenger revenue and boosted total revenue to NT$14.2 billion, up 58 percent year-on-year, it said.
The airline’s passenger load was 13.6 percent last month, down from 16.3 percent a year earlier, while its freight load rose slightly from 75.5 percent to 76.6 percent, with the
The TAIEX closed slightly lower yesterday as buying rotated to old-economy and financial stocks to offset losses in the electronics sector that emerged after technology stocks plunged on US markets.
Turnover remained thin, with many investors staying on the sidelines amid fears over negative leads that might emerge during the Lunar New Year holiday, dealers said.
The local market is closed from today to Feb. 6.
The TAIEX closed down 26.72 points, or 0.15 percent, at 17,674.40. Turnover totaled NT$224.109 billion (US$8.08 billion), with foreign institutional investors selling a net NT$15.11 billion of shares on the main board, Taiwan Stock Exchange data showed.
“After
INVESTMENT
<strong>Foreigners net buyers</strong>
Foreign investors last week bought a net NT$42.43 billion (US$1.54 billion) of local shares after buying a net NT$29.96 billion a week earlier, the Taiwan Stock Exchange said in a statement yesterday. As of Friday, foreign investors had bought NT$72.39 billion of local shares since the beginning of this year, it said. Last week, the top three shares that foreign investors bought were Shin Kong Financial Holding Co (新光金控), Taiwan Semiconductor Manufacturing Co (台積電) and Taishin Financial Holding Co (台新金控), while the top three sold were Hon Hai Precision Industry Co (鴻海精密), China Airlines Ltd (中華航空) and SinoPac
China Airlines Ltd (CAL, 中華航空) yesterday reported record revenue of NT$16.92 billion (US$611.54 million) for last month, up 63.41 percent from a year earlier, aided by record cargo revenue of NT$15.43 billion amid the peak travel season, the airline said.
Cargo revenue was up 9.49 percent month-on-month and 71.39 percent year-on-year, the airline said.
“Demand for air shipping remained strong last month, leading to high freight rates and a high load-factor. It was the fifth consecutive month that our cargo revenue surpassed NT$10 billion since August,” it said in a statement.
The airline holds an upbeat outlook for the air cargo business in