FAST-EXPANDING Eva Air has turned in profits a year ahead of schedule, only four years after its launch as Taiwan's first privately owned carrier. The airline has also announced it is to launch a new airline in Panama by the end of the year.
The carrier, which started operations in July 1991, had not planned to reach break-even until the end of 1996 after completing its five-year strategic plan. Instead, it ended 1995 showing a modest net profit of $7.2 million, and forecasts that that figure will grow to $22 million this year.
The airline has also continued its break-neck expansion, pushing sales up by 45% in 1995 to above $1 billion. Passenger numbers were up by 50% to top 3 million, while load factors improved to 72%. Cargo, which now accounts for 30% of sales, more than doubled over the year, to around 230,000t.
Eva, which was is part of Taiwan's Evergreen shipping and freight conglomerate, expects to see the dramatic expansion continue this year, with sales forecast to grow another 20% close to $1.3 billion.
Another two Boeing 747-400 Combis are due to join the long-haul fleet over the year, taking the tally of 747-400s to 12, including eight Combis. Another McDonnell Douglas MD-90 will also join the short-haul fleet.
The Panama operation is being set up to serve Central and South American markets. A local partner will be selected by the middle of the year to set up Ever Panama Airways.
Eva is looking at several aircraft options, including Boeing 767s. A decision on routes and aircraft type will be made in the next few months. Panama is one of the few countries that formally recognises Taiwan.
Source: Flight International
