Taiwan

Optimistic about the recovery, Starlux landed on the Taiwan stock market | News


Starlux Airlines has listed on the Taiwan Stock Exchange as it looks for expansion opportunities amid a travel recovery in full swing.

The airline is currently listed on the Taiwan Stock Exchange’s Emerging Stock Board, a preliminary board for trading ahead of an IPO. Starlux, founded by former EVA Chairman Zhang Guowei, has been operating for more than two years.

The airline remains in the red, according to stock exchange information: It posted an operating loss of NT$2.4 billion ($75.6 million) for the three months ended June 30 and a loss of NT$3.2 billion in 2021.

However, the airline is optimistic about its near-term opportunities, especially now that Taiwan has announced plans to ease travel restrictions from mid-October.

Starlux said in a statement announcing the listing: “With the gradual relaxation of border measures in various countries and the recovery of the tourism market…the revenue from January to August this year increased by 131% compared with the same period last year.”

With Taiwan’s travel restrictions set to be lifted from Oct. 13, Zhang, the airline’s chairman, said the second half of 2022 “is the peak period for Starlux,” with the number of flights tripling quarter-on-quarter in the fourth quarter of this year.

Starlux added that it will launch flights to Okinawa and Sapporo, Japan, on October 28, followed by flights to Da Nang, Vietnam.

It will also take delivery of its first Airbus A350 in October and deploy it on long-haul flights to North America in 2023. By the end of this year, Starlux said it will have a fleet of 19 Airbus jets, including A330neos and A321neos.





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