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China Airlines net profit falls as cargo demand slows

China Airlines Ltd (CAL, 中華航空) yesterday reported a net profit of NT$420 million (US$14 million) for last quarter, down 86 percent from NT$3.07 billion a quarter earlier, although an improvement from a net loss of NT$342 million a year earlier.
Earnings per share were NT$0.07 last quarter, the airline said in a statement.
CAL attributed the quarterly decrease in profit to the reduction in air cargo demand due to slowing global economic growth, surging inflation and interest rate hikes.
The increase in aviation fuel prices amid the Russia-Ukraine war also weighed on the company’s bottom line, it said.
The airline’s passenger revenue gained ....

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China Airlines reports NT$3bn profit

China Airlines Ltd (CAL, 中華航空) yesterday reported net profit of NT$3.07 billion (US$103.25 million) for the first quarter of this year, the second-highest quarterly figure since the beginning of the pandemic given the higher margin in its cargo business, the airline said.
Earnings per share were NT$0.52, compared with losses per share of NT$0.19 a year earlier, company data showed.
With revenue growing 34 percent year-on-year to NT$37.2 billion, and operating costs rising 21 percent to NT$31.7 billion, CAL’s gross profit advanced 229 percent over the period to NT$5.49 billion last quarter, data showed.
That suggested a gross margin of 14.77 percent, up ....

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