Caption: China Airlines and EVA Air post operating profits in Q2
Despite steep drops in revenue and passenger flights due to this pandemic, Taiwan’s two biggest carriers, China Airlines and EVA Air, both posted operating profits in Q2 this year.
The profits come offset by massive cargo growth.
China Airlines reported an operating profit of $96.1 million (NT$2.75bn) for Q2 2020, reversing a $20mn loss from the same time last year. Revenues fell by 38% this quarter as passenger load factor remains in the 20% range. Despite this, cargo revenues surged by 115%, offsetting losses from passenger flights.
EVA Air’s operating profit also came from a huge increase in cargo revenue. The airline reported a 136% growth in cargo revenue from last year as demand surged. Cargo load factors reached over 90% in the quarter and have since continued. EVA saw a 91.9% load factor for cargo in September and yield increase 68% year-on-year.