Taipei-based China Airlines Boeing 747-400
“We may have a chance to be profitable next year as the economic recovery boosts demand for our cargo and passenger services,” Chairman Philip Wei told reporters in Taoyuan, where Taiwan’s biggest airport is located. The company celebrated its 50th anniversary yesterday.
China Airlines, based in Taipei, in October posted a third-quarter loss of NT$2.62 billion, narrower than the NT$5.88 billion deficit it reported a year earlier. Improving cross-strait ties have allowed the company to add more mainland flights, offsetting a global slump in passenger and air-cargo demand. Airlines worldwide may lose a total of US$11 billion this year, according to the International Air Transport Association.
China Airlines climbed 0.5 percent to close at NT$10.75 on the Taiwan Stock Exchange. The stock has lost 1.8 percent this year, compared with the 69 percent gain on the benchmark TAIEX index. – read more at The China Post…