Manufacturing Industry
EVA Airways reports lower profit for Q1
Airline Industry Information, April 29, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
EVA Airways has reported a 29% decline in profit for the first quarter, year-on-year.
The Taiwanese airline said that its Q1 net profit was USD17.12m (TWD535.5m compared to TWD750.5m in 2004). According to EVA, the high aircraft fuel prices were to blame for the fall in net profit, as fuel prices were at an average of USD50 for the first quarter of 2005 compared to USD32 per barrel in the same period last year.
The airline also reported an increase in operating costs to TWD17.82bn (USD570.22m) in Q1 compared to TWD16.01bn for Q1 2004. The pre-tax profit for the period was TWD643.1m (USD20.57m), The Associated Press reported.
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