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October 20, 2004, Taipei, Taiwan – China Airlines
today announced to raise its annual financial forecast for 2004
to NT$ 4,050 million, 29% higher than the original forecast of NT$
3,150 million. The revised forecast for earning per share after-tax
is NT$ 1.35. The 2004 full year forecast for operating revenue is
revised as NT$ 93,500 million, NT$ 4,400 million or 5.0% higher
than original and 23.3% higher than last year.
The increased demand for passenger and cargo transportation, the
expanded fleet size, capacity and traffic have resulted in impressive
growth of passenger and cargo revenues. On the cost side, although
the higher fuel price, China Airlines is able to stabilize the cost
structure by fleet rejuvenation, effective fuel hedging and other
cost control. China Airlines also received insurance rebate in current
year and reduced insurance premium for the coming year from insurance
company due to significant improvement on flight safety
Compared to the same period last year, China Airlines’ operating
revenue of NT$ 70,050 million in the first three quarters of 2004
represented a growth of 30.8%. The pretax profit of NT$ 3,500
million in the first three quarters of 2004 already exceed the
original annual forecast by 11.1%. The fourth quarter is the traditional
peak season for cargo operation. The increased cargo volume and
tariff reflect a good profitability of China Airlines.
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