China Airlines slips from highs after strong H1 results

Taipei, Aug. 11 (CNA) Shares of China Airlines (CAL), one of Taiwan's leading international carriers, slipped from early highs Monday as investors locked in profits after the company's strong first-half earnings.

As of 11:51 a.m., CAL shares were up 0.48 percent at NT$21.05 (US$0.70), down from a high of NT$21.45 earlier in the session. The benchmark Taiex rose 0.75 percent to 24,200.76 points.

The early rise in CAL shares followed the carrier's weekend announcement of a record net profit for the January-June period, driven by strong demand in the post-COVID-19 tourism boom. However, the stock retreated as the broader market moved into consolidation.

In a statement, CAL reported a consolidated net profit of NT$8.9 billion for the first half of the year on consolidated revenue of NT$104.1 billion.

The carrier said net income attributable to shareholders was NT$8.04 billion in the six-month period, with earnings per share rising to NT$1.32 from NT$1.08 a year earlier -- the second highest in its history.

In the second quarter alone, net income attributable to shareholders was NT$3.86 billion on consolidated revenue of NT$51.33 billion, the company said.

CAL said it benefited from peak-season demand during the nine-day Lunar New Year holiday in late January and the extended Tomb Sweeping Festival holiday in April, which helped sustain strong sales in the first half of the year.

In its cargo business, CAL said first-half sales rose 18.75 percent from a year earlier as foreign buyers rushed to place orders ahead of U.S. tariff policies, while demand for artificial intelligence applications and other electronic devices increased.

CAL announced a partnership with U.S.-based Southwest Airlines to expand its trans-Pacific network, offering seamless connections to more than 30 inland destinations.

On Dec. 3, it will launch direct flights between Taipei and Phoenix three times a week, becoming the first Asian carrier to serve the southwestern U.S. city.