Taiwanese carriers report profitable 2021 on revenue uptick

Taiwan’s two largest carriers were in the black for 2021, helped a significant jump in revenue during the year. While China Airlines continued its profitable streak for another year, compatriot EVA Air bounced back from the red to post a full-year operating profit of around NT$10.4b ($363m). This compares to the NT$827m operating loss it reported for 2020. Revenue for the year rose 16.6% to NT$104b, offsetting a 4% rise in costs and expenses to around NT$93.5b. The carrier reported a net profit of NT$6.6b, compared to 2020’s NT$3.4b net loss. As for China Airlines, it posted an operating profit of nearly NT$15b, a significant jump from the NT$2.2b full-year profit in 2020. Revenue in 2021 grew 20.5% to NT$139b, while costs and expenses only inched up 9.6% to NT$124b.<br/>