Taiwanese carriers in the red for first quarter

Taiwan’s two main carriers — China Airlines and EVA Air — were both loss-making in their first quarter earnings as revenue took a hit. In separate stock exchange disclosures, China Airlines narrowed its operating loss year on year, while compatriot EVA Air fell deeper in the red. For the quarter ended 31 March, China Airlines reported an operating loss of NT$469m ($16.8m). This compares to the NT$2.97b loss it posted during the same quarter in 2020. Revenue for the quarter fell 14.5% year on year to NT$27.8b, while expenses saw a 19% drop to NT$26.2b. The carrier was in the black for 2020, posting an operating profit of NT$2.18b, as a focus on cargo helped cushion a pandemic-driven decline in passenger revenue. As for EVA Air, it reported an operating loss of NT$1.76b for the quarter, widening the NT$445m loss it made last year. Revenue fell around 35% year on year to NT$19.7b, with expenses falling about 30% to NT$19.2b. In comparison, the carrier reported a full-year operating loss of NT$827m in 2020. <br/>