China Airlines reports Q2 profit thanks to cargo carrying during pandemic (2020/08/10)

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The airline industry has suffered tremendously from the global pause on travel. But China Airlines has bucked the trend. So far, it’s been the only airline in East Asia to report a healthy second-quarter profit. That’s because the airline has turned to rely on its fleet of cargo aircraft, serving the demand for import and export of tech goods and medical equipment. Stuck in Taiwan for months, no one can look forward to an overseas holiday. Airlines are offering “fake foreign holidays” to try and recoup their losses. But China Airlines doesn’t have losses to worry about. Cargo makes better money than people-carrying, explained Wealth Magazine Chairman Hsieh Chin-ho on Facebook. In the second quarter of this year, only 13,000 people flew into Taiwan – a drop of 99.5% compared to the same period last year. China Airlines’ revenue was NT$26.3 billion in that period, down nearly 20% from the first quarter. But despite that, profit was up in the second quarter, bouncing back from the stinging first-quarter loss of NT$3 billion. Q2 profit stood at NT$2.7 billion, representing earnings per share of NT$0.45. #IndustryAviation#NewsAviation#Worldaviationblog#Aviaton#Airlines#ChinaAirlines#Cargoout#Covid19#Panademic#Reports#Eva Air

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