China Airlines Reports Second Highest Q2 and H1
Profits on Record
(15/08/23)
China Airlines has reported its Q2 2023 operating results.
For the first half of the year, the Taiwan-based airline reported
an operating revenue of TWD 89.885 billion (up 21.33% yoy), a consolidated operating profit of TWD 6.593
billion, consolidated net profit after tax of TWD 4.861 billion,
and TWD 4.6 billion in net profit before tax attributed to the
parent company.
Earnings per share (EPS) came in at TWD 0.77, up
TWD 0.19 compared to the same period last year.
Single-quarter
revenue for Q2 was TWD 47.193 billion, up 28.05% yoy, net profit
attributable to the parent company amounted to TWD 3.294 billion,
and EPS was TWD 0.55.
The Q2 single-quarter
and H1 profits were both the second highest for their period on
record.
The easing of the COVID19 pandemic and renewed
traveler confidence helped boost growth in passenger volume. China
Airlines has been scheduling more flights in preparation for the
recovery of travel demand and transit requirements and there have
been approximately three routes inaugurated or reinstated every
two months since the end of last year.
Passenger revenue for Q2 2023
grew by 25% compared to the previous quarter, whilst the 1351% growth in passenger revenue compared to the
same period last year reflects the rebound in the travel market.
Aviation fuel prices are also significantly lower than the same
period last year and contributed to the overall bottom-line.
China Airlines is actively working to meet the rapidly growing
demand for post-pandemic travel in the second half of the year
with flight frequencies expected to reach 80% of pre-pandemic levels, while
long-haul routes for Europe, North America, and Oceania are mostly
already back to pre-pandemic levels.
A non-stop route
from Taipei to Prague was also inaugurated giving a further boost
to passenger revenues during the summer peak season and regional
routes will see an increase in service frequency.
A
Kaohsiung-Seoul (Gimpo) route will be launched on 26 August
followed by the launch of the Taipei-Kumamoto route on 18 September.
China
Airlines has said that it is following a balanced passenger and cargo strategy
while continuing to make adjustments to the overall cargo network.
Medium and long-term custom charter packages will be emphasized to
expand high value sources for semiconductor machinery, cold-chain, engines, and aerospace materials. Cooperation on integrated
logistics and shared flights will also be strengthened to take
advantage of cargo growth opportunities.
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