EVA Airways sees profit nosedive by 98 percent
EVA Airways reported a huge dip in net profit for the second quarter, mostly due to the damaging cabin crew strike this summer.
Profit sunk by 98% to NT$33 million (US$1.05 million) compared to last year’s NT$1.91 billion.
It was the lowest for nine quarters.
Profit was almost all but wiped out as EVA was forced to pay NT$805 million to compensate disrupted passengers, as well as increased non-operating expenses, the airline said.
It lost NT$2.11 billion in revenue as the strike dragged on for 10 days forcing the cancellation of 469 flights.
Overall, it reported 2019 first half net profit of NT$1.94 billion, which is a decline of 42% from a year earlier.
Despite the strike woes, it still performed better than rival China Airlines, which posted first half losses of NT$686 million as non-operating expenses surged by more than 150%.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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