‘POORLY RUN’: The government is committed to ensuring the sustainability of the Taiwan-Palau air route, Ministry of Foreign Affairs spokeswoman Joanne Ou saidBy Yang Cheng-yu and Jonathan Chin / Staff reporter, with staff writer
Palauan President Surangel Whipps Jr on Friday lashed out at China Airlines Ltd (CAL, 中華航空), saying it has “poisoned” the market by neglecting its air route to the Pacific archipelago and that he plans to initiate talks with Taipei over the matter.
Whipps made the remark at a routine news conference at the Presidential Office in Ngerulmud, after being asked to comment on frequent flight cancelations by China Airlines.
“I think China Airlines is playing with [the] Palau market. They need to change their behavior, need to be invested and think long-term about the Palau market,” a report by the Palau-based newspaper
China Airlines Ltd (CAL, 中華航空) yesterday reported a net profit of NT$2.91 billion (US$104.43 million) for last quarter, the highest since the outbreak of the COVID-19 pandemic, thanks to its booming air cargo business.
That compares with net losses of NT$1.01 billion in the first quarter and NT$342 million in the second quarter.
In the first three quarters, CAL posted a net profit of NT$1.55 billion, or earnings per share of NT$0.28.
The airline attributed last quarter’s turnaround to its cargo business, with cargo revenue surpassing NT$10 billion each in August and September, backed by robust demand for mobile device components and semiconductor
Taiwan Ratings Corp (中華信評) on Thursday raised its outlook on China Airlines Ltd (CAL, 華航) from “negative” to “stable” on expectations that the nation’s largest air cargo operator would benefit from elevated cargo demand and strong air freight rates next year, it said.
The local arm of S&P Global Ratings forecast demand for air cargo to remain at a comparatively high level next year due to strong consumer demand in the US and Europe, growing trade volume and ongoing disruption of sea shipping, it said in a report.
Because of Taiwan’s favorable geographic location in Asia, CAL is likely to receive high
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