China Airlines could return to profitability by end of 2009
China Airlines stated it could return to profitability by the end of 2009, beating existing forecasts, due to strong demand from direct cross-Strait services (Reuters, 21-Aug-09). According to Chairman, Philip Wei, cross-Strait services now comprise 10% of the carrier’s business and are currently profitable. The carrier added that it has seen an improvement in demand this month.
China Airlines: "Flights between Taiwan and Mainland China can help our overall performance…The worst of the global downturn has already passed, though the recovery speed is still pretty slow for both passengers and cargo.. Things have improved in August but whether we make money this year overall is hard to predict," Philip Wei, Chairman. Source: Reuters, 21-Aug-09.