Taiwan’s two main carriers — China Airlines and EVA Air — were both loss-making in their first quarter earnings as revenue took a hit.
In separate stock exchange disclosures, China Airlines narrowed its operating loss year on year, while compatriot EVA Air fell deeper in the red.
For the quarter ended 31 March, China Airlines reported an operating loss of NT$469 million ($16.8 million). This compares to the NT$2.97 billion loss it posted during the same quarter in 2020.
Revenue for the quarter fell 14.5% year on year to NT$27.8 billion, while expenses saw a 19% drop to NT$26.2 billion.
The SkyTeam carrier was in the black for 2020, posting an operating profit of NT$2.18 billion, as a focus on cargo helped cushion a pandemic-driven decline in passenger revenue.
As for EVA Air, it reported an operating loss of NT$1.76 billion for the quarter, widening the NT$445 million loss it made last year.
Revenue fell around 35% year on year to NT$19.7 billion, with expenses falling about 30% to NT$19.2 billion.
In comparison, the Star Alliance carrier reported a full-year operating loss of NT$827 million in 2020.
Both carriers did not provide a detailed discussion on their financial results, which will be released at a later date.