Reported 7 months ago
Starlux Airlines in Taiwan has announced a combined revenue of 2.598 billion NTD for May, a decrease of 2.33% from the previous month but a 52.1% increase year-on-year, setting a new record. Reports also suggest that Starlux is planning to apply for an IPO soon, possibly by the end of the year. Similarly, low-cost carrier Tigerair Taiwan revealed a May revenue of 1.219 billion NTD, marking an 8.1% monthly decrease but a 38.31% yearly increase, also hitting a new high for the same period. Starlux Airlines' accumulated revenue for the first five months of 2024 reached 13.255 billion NTD with a 71% year-on-year growth, while Tigerair Taiwan's revenue for the same period was 6.793 billion NTD, showing a 55.02% annual growth rate, both reaching historic highs. Starlux credited their May revenue success to steady adjustments in flight schedules, particularly strong passenger performances in destinations like Japan, Thailand, and Vietnam, leading to a 53% annual growth in passenger revenue. Tigerair Taiwan highlighted a 43% increase in flight frequency compared to the same period last year and plans to expand direct flights to Japan, Korea, and Southeast Asian destinations to continue growth. Furthermore, Starlux Airlines' recent financial performance indicates a turnaround from losses to gains, with the previous year's revenue hitting 22.4 billion NTD and a per-share profit of 0.08 NTD without dividend distribution.
Source: YAHOO