Taiwan`s Top-3 Airlines` Profits Soar in First Seven Months

Taiwan`s top-three airlines, including China Airlines Ltd. (CAL), EVA Airways Corp. and Trans Asia Airways Ltd., all enjoyed exponential growth in after-tax earnings in the first seven months of this year.

CAL, Taiwan`s No.1 airline, posted over NT$2 billion in after-tax earnings, or NT$0.5 in per-share earnings, in July alone. Institutional investors believe CAL and EVA will each be able to challenge NT$2 in EPS for the first seven months, realizing outstanding profitability in the third quarter. Trans Asia said it registered NT$0.7 in pre-tax earnings per share in the first seven months.

Trans Asia, 48.5% of which is held by Goldsun Construction & Development, scored NT$850 million in July sales, for a historic high. An institutional investor estimates Trans Asia registered NT$500 million in pretax earnings in the first seven months, who will be able to challenge NT$800 million in pretax earnings, or NT$2 in earnings per share, on total sales of NT$8 billion in 2010.

CAL raked in NT$13.239 billion in July sales, for a monthly new record, with passenger service sales shooting up 20% to NT$7.684 billion in July from the previous month`s NT$6.385 billion. The company is expected to see after-tax earnings reach NT$6.2 billion in the first half.

EVA saw July sales hit NT$9.826 billion, for a historic high, of which NT$5.559 billion came from passenger service sales.

A market analyst notes the three airlines will see exponential growth in earnings in the third quarter due to rising passenger traffic during the summer vacation.

(by Ben Shen)

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