China Airlines expects promising outlook in 2Q2010
China Airlines Chairman, Philip Wei, stated the company's financial structure has become healthier, adding that fundamentals are expected to remain solid in 2Q2010 (Taipei Times, 27-Apr-2010). Mr Wei attributed the improvement in revenues to the global economic recovery, direct cross-strait transportation links and strong growth momentum in the cargo and passenger businesses. He added the company’s debt-to-assets ratio in 1Q2010 declined from 85.9% to 79.4%, with its liquidity ratio increasing from 90.82% to 57.8%. The net asset value per share in 1Q2010 was TWD9.56, up from TWD6.25 in 1Q2009. However, the carrier stated the recent volcanic eruption in Iceland is expected to result in a profit reduction of approximately TWD10 million (USD319,000).
China Airlines: “In the past two years, the global financial crisis, soaring global oil prices and the swine flu breakout dealt the strongest blow to the aviation industry in history and China Airlines has managed to get through the difficult times,” Philip Wei, Chairman. Source: Taipei Times, 27-Apr-2010.