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CAL stock soars 30% on Apple deal
August 25th 2017
Shares of Taiwanese flag carrier, China Airlines (CAL), have risen more than 30%, adding more than US$4.1 billion in market value, on investor optimism that the airline’s cargo division, China Airlines Cargo, will benefit from orders by Apple for the island’s many suppliers for the new iPhone. Read More »
“China Airlines is doing well in the cargo business, and with Apple introducing the new iPhone in September, there will be an uptick in demand for shipping electronics components,” Jin Chang, analyst at President Capital Management Corp., has told Bloomberg.
The CAL Group is expected to post its best quarterly result since 2010 next month. The airline is run by chairman Ho Nuan-Hsuan. Click here for our executive interview with Mr. Ho.
China Airlines Cargo is the sixth largest freight carrier in the world by volumes carried. It operates 21 B747-400Fs.
