China Airlines expects record profit

China Airlines, Taiwan's largest carrier, has posted a record net income in the third quarter ended September 30 of TWD3.76 billion (US$123 million) on the back of higher cargo shipments across the Taiwan Strait. This compares to a loss of TWD2.62 billion a year earlier.
"Taiwan airlines are reporting strong earnings, because of the mainland factor, with flights across the Strait being the golden routes," Peter Tzeng, a Taipei-based analyst at Polaris Securities, told Bloomberg.
China Airlines' third quarter sales surged 50 per cent compared to the same period last year to TWD36.9 billion, based on monthly sales reports.
Nine-month net income amounted to TWD10 billion, compared with a loss of TWD4.99 billion, a year earlier, China Airlines was cited as saying in a statement to the Taiwan Stock Exchange.
China Airlines is forecasting a record profit for 2010 as cargo volumes have doubled and as travel increases between Taiwan and China, according to Philip Wei, the carrier's chairman.
 

Source: Transportweekly