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China Airlines reports highest growth in operating history
November 28th 2024
Taiwan’s China Airlines (CAL) presented its fleet expansion and strategy for growth plans to institutional investors earlier this month. Read More » At the presentation, the airline announced it recorded annual growth of 53% for the nine months to September 30, a company record. CAL chair, Hsieh Su-Chien, said the flag carrier’s passenger and cargo strategy of rolling adjustments to flight schedules that integrated passenger and cargo transportation resources produced consolidated revenue of TWD150.93 billion (US$4.64 billion) for the first three quarters of this year. Consolidated operating profit came in at TWD13.35 billion and consolidated net profit after tax was TWD11.34 billion. Both passenger and cargo sectors outperformed the matching months in 2023. Northeast and Southeast Asia delivered the most significant growth, CAL said, and added passenger capacity for the nine months increased by 12% compared with a year ago. Medium and long-haul route passenger volumes already have surpassed pre-pandemic volumes, it added. Passenger revenue was 9.6% higher than the same quarters last year with regional and long-haul routes recording more growth than last year. To meet capacity demand and revitalize its fleet, CAL is progressively introducing 25 A321neo into its operations with 19 of the type planned to be in service next year and for all deliveries to be completed by 2026. The all-new 787 fleet of 18 787-9s and six 787-10s, which will be the mainstay of CAL’s regional and medium/long-haul network, will start arriving at CAL in 2025. In 2027, CAL will embark on a cabin retrofit program of 15 A350s. In response to supply chain challenges affecting new aircraft deliveries CAL is extending leases on its existing A330s and 737-800s to compensate for the shortfall in capacity, stabilize the network’s resilience and strengthen its market presence. CAL said 10 777Fs will be flying next year and the retirement of several 747Fs will shrink the carrier’s fleet of the type to eight. Belly cargo capacity on the airline’s passenger aircraft will boost cargo operations, it added.
