Taiwanese carriers suffer big Q1 operating losses
Two of Taiwan’s largest carriers — China Airlines and EVA Air — posted operating losses for the quarter ended 31 March, as they felt the impact of the coronavirus outbreak. While operating costs and expenses fell, both carriers reported a big drop in revenue, in part due to global pandemic-related travel restrictions and falling travel demand. EVA Air reported a 32% year-on-year drop in revenue to NT$30.2b. Expenses for the period fell nearly 25% to NT$30.7b. It made a net loss of NT$1.22b, reversing the net profit of NT$1.91b it made last year. The carrier ended the period with reduced cash and cash equivalents, at NT$40.4b, compared to NT$51.5b at the start. EVA Air did not include a discussion in its earnings report. Story has China Airines details too.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-07-17/star/taiwanese-carriers-suffer-big-q1-operating-losses
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Taiwanese carriers suffer big Q1 operating losses
Two of Taiwan’s largest carriers — China Airlines and EVA Air — posted operating losses for the quarter ended 31 March, as they felt the impact of the coronavirus outbreak. While operating costs and expenses fell, both carriers reported a big drop in revenue, in part due to global pandemic-related travel restrictions and falling travel demand. EVA Air reported a 32% year-on-year drop in revenue to NT$30.2b. Expenses for the period fell nearly 25% to NT$30.7b. It made a net loss of NT$1.22b, reversing the net profit of NT$1.91b it made last year. The carrier ended the period with reduced cash and cash equivalents, at NT$40.4b, compared to NT$51.5b at the start. EVA Air did not include a discussion in its earnings report. Story has China Airines details too.<br/>
