News
Ex-EVA chairman sets up new carrier?
April 21st 2017
Chang Kuo-wei, the former chairman of EVA Airways, has set up a new Taipei-registered company – Hsing Yu Investment, the Ministry of Economic Affairs confirmed Tuesday. Read More »
The firm is listed as an investment business, with Chang serving as a board member, but local media are reporting this is Chang’s first step toward launching his own carrier.
Under the current legal framework, any company applying to operate civil aviation services in Taiwan must have been in international transport or trade for at least five years and must have generated revenues exceeding NT$6 billion a year, Chang’s close aid and former EVA Air spokesman, Nieh Kuo-Wei, told local paper Apple Daily, adding that efforts were “being made to seek a breakthrough”.
In March 2016, following the passing of his father, Evergreen Group founder Chang Jung-fa, and a nasty succession feud among his heirs, Chang was ousted as EVA Air chairman and replaced by Steve Lin.
EVA this week posted a NT$3.5 billion full-year 2016 profit, down 46% year-on-year, as passenger yield dropped by a sharp 10% during the year to NT$2.09 per passenger. Cargo yields were down 18.4% to NT$5.84.
The Star Alliance member carried 11.2 million passengers in 2016, up 11.7%, as RPKs grew 16.1%, outpaced by an increase in ASKs of 17.2%. This resulted in an average 2016 load factor of 80%, down 2.8%.
The Evergreen carrier currently has a fleet of 74 passenger aircraft but its order books are full with two more A330s, four more B777-300ERs, four B787-9s and 20 B787-10s.
