EVA Air's strong cargo revenues help offset Q2 net loss
TAIWAN's EVA Airways reported a smaller net loss in the second quarter than in the first, as solid demand for cargo services helped offset a decline in passenger volume amid the Covid-19 pandemic
TAIWAN's EVA Airways reported a smaller net loss in the second quarter than in the first, as solid demand for cargo services helped offset a decline in passenger volume amid the Covid-19 pandemic.
In a statement, EVA Air said the steep decline in passenger flight revenue was offset by a 137 per cent year-on-year jump in cargo services income to TWD14.34 billion (US$488 million) in the second quarter. According to reports, EVA Air benefited from strong demand for the delivery of high-tech devices and personal protective equipment in the three-month period.
In a statement, EVA Air posted TWD614 million in net loss for the second quarter compared with TWD1.2 billion in net loss in the first quarter.
As the Covid-19 pandemic continued to cripple the global airline industry, EVA Air's consolidated sales fell 56 per cent in the second quarter from a year earlier to TWD19.29 billion, with its revenue from passenger flights plunging 93.6 per cent year-on-year to TWD1.52 billion, according to the statement.
Meanwhile, the airline reported a net loss of TWD1.83 billion for the first six months of the year, compared with TWD1.94 billion over the same period of 2019.
The carrier's consolidated sales in the first half of the year dropped 44 per cent year-on-year, with revenue from its passenger flights falling 59.6 per cent from the previous year to TWD20.17 billion, while its revenue from cargo services climbed 70.7 per cent to TWD20.72 billion, reports Mumbai's STAT Trade Times.