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Transportation

China Airlines Ltd.

Company Background

Founded in December 1959 by the Taiwanese government, China Airlines is Taiwan's flagship carrier and its largest. It is a member of the SkyTeam global airline alliance and offers both passenger and air cargo services.

The government-controlled airline flies to major destinations in North America, Europe and Asia. Traditionally a long-haul carrier with a fleet of 90 passenger and cargo jets, it mainly relies on Airbus A330 and Boeing 747 planes for intercontinental flights.

Now it mostly depends on regional passenger flights, particularly to China, Japan and South Korea, for revenue growth. Passenger flights account for more than two-thirds of the company's annual revenue, with the remainder coming from cargo services and onboard sales of duty-free goods.

In 2013, it created Tigerair Taiwan with Singapore-based Tigerair to tap Asia's budget air travel market.

Company President Chang Yu-Hern is a veteran in the local transportation sector. Previously he served as director-general of the Institute of Transportation under Ministry of Transportation and Communications. Before that, he was a director and consultant at the China Aviation Development Foundation, a government-controlled entity that is responsible for growing Taiwan's aviation industry.

Business Summary

China Airlines Ltd. engages in the provision of international air passenger transport and freight services. Its business includes air passenger transport in regular or occasional international charter contract; air cargo services; civil aviation international airport and transit of aircraft handling services; aircraft merchandise sales; aircraft catering; aircraft internal products such as cloth laundry washing and hospitality industry general business; in, out, and transit air cargo warehousing services; and aircraft airframe maintenance. The company was founded on September 07, 1959 and is headquartered in Taoyuan, Taiwan.

Financial Highlights

Dec 2019 TWDUSD
Revenue168,444.16M5,449.02M
Gross Profit14,827.94M479.67M
Operating income2,666.09M86.24M
Income before tax-429.12M-13.88M
Net income-1,199.79M-38.81M
EBITDA35,465.45M1,147.27M
Diluted EPS-0.22-0.00
Dividends Per Share----
Total Assets293,047.97M9,775.76M
Total liabilities232,915.86M7,769.81M
Total equity56,553.77M1,886.57M
Operating cash flow37,805.35M1,222.97M
Currency in TWDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 145,056.21M 141,079.10M 156,121.78M 170,711.60M 168,444.16M
Gross Profit 19,445.12M 17,152.70M 21,041.46M 16,349.48M 14,827.94M
Operating income 8,129.47M 4,564.96M 8,826.43M 4,022.66M 2,666.09M
Income before tax 6,618.74M 1,342.86M 2,987.72M 2,714.00M -429.12M
Net income 5,763.71M 571.54M 2,208.06M 1,790.36M -1,199.79M
EBITDA 25,461.01M 22,257.69M 27,425.31M 23,539.44M 35,465.45M
Diluted EPS 1 0.10 0.39 0.31 -0.22
Dividends Per Share 0.45 0 0.21 0.20 --
Total Assets 221,926.30M 224,500.75M 225,899.63M 230,136.58M 293,047.97M
Total liabilities 161,601.78M 166,780.24M 166,888.70M 170,089.49M 232,915.86M
Total equity 58,037.87M 55,637.13M 56,876.64M 57,081.57M 56,553.77M
Operating cash flow 31,948.04M 17,544.64M 28,469.88M 25,188.00M 37,805.35M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 4,568.11M 4,374.43M 5,131.75M 5,661.23M 5,449.02M
Gross Profit 612.36M 531.85M 691.63M 542.19M 479.67M
Operating income 256.01M 141.54M 290.12M 133.40M 86.24M
Income before tax 208.43M 41.63M 98.20M 90.00M -13.88M
Net income 181.51M 17.72M 72.57M 59.37M -38.81M
EBITDA 801.81M 690.14M 901.47M 780.62M 1,147.27M
Diluted EPS 0.03 0.00 0.01 0.01 -0.00
Dividends Per Share 0.01 0 0.00 0.00 --
Total Assets 6,756.36M 6,965.79M 7,591.09M 7,487.28M 9,775.76M
Total liabilities 4,919.83M 5,174.85M 5,608.10M 5,533.70M 7,769.81M
Total equity 1,766.91M 1,726.30M 1,911.27M 1,857.09M 1,886.57M
Operating cash flow 1,006.10M 544.00M 935.81M 835.29M 1,222.97M

Valuation Measures

Dec 2019
PER--
ROA-0.45%
ROE-2.11%
Operating margin1.58%
Profit margin-0.71%

Key executives

  • Chairman, President & General Manager: Su Chien Hsieh
  • Vice President-Flight Operations: Ming Hui Lai
  • Vice President-Information Management: Shih-Ming Lu
  • Vice President-Administration: Ming-Jyh Chung
  • Vice President-Passenger Sales & Marketing: Pao-Chu Peng

Shareholders

  • China Aviation Development Foundation (34.4%)
  • National Development Fund of The Executive Yuan (9.5%)
  • Chunghwa Telecom Co., Ltd. (4.8%)
  • Labor Pension New Fund (1.8%)
  • The Vanguard Group, Inc. (1.8%)
  • Dimensional Fund Advisors LP (1.7%)
  • BlackRock Fund Advisors (1.4%)
  • China Airlines Ltd. Employee Stock Ownership Trust Plan (1.0%)
  • Norges Bank Investment Management (0.8%)
  • Hai Yang Investment Co. Ltd. (0.7%)

Contact Details

  • Website:http://china-airlines.com
  • Address: No. 1 Hangzhan South Road, Dayuan District, Taoyuan, 337 58, Taiwan
  • Phone: +886.3.399.8888

Related Companies

  • Taiwan Aircraft Maintenance & Engineering Co. Ltd.
  • Tigerair Taiwan Co., Ltd.
  • Global Sky Express Ltd.
  • China Pacific Laundry Services Ltd.
  • Yestrip Co., Ltd.
  • Hwa Hsia Co. Ltd. /TW/
  • China Airlines Ltd. Employee Stock Ownership Trust Plan
  • China Airlines Ltd. (California)
  • Cal Park Co. Ltd.
  • China Pacific Catering Services Ltd.
  • Taiwan Air Cargo Terminal Ltd.
  • Cal Hotel Co., Ltd.
  • Taoyuan International Airport Services Co. Ltd.
  • Science Park Logistics Co., Ltd.
  • Dynasty Holidays, Inc.
  • Freighter Queen Ltd.
  • Freighter Prince Ltd.
  • Freighter Princess Ltd.
  • Hua Chuan Travel Agency
  • CAL-Asia Investment Inc.
  • Hsien Chi Information System Co. Ltd.
  • Hua Sheng Investment Co. Ltd.
  • Hua Hsin Aviation Co. Ltd.
  • Cal-Dynasty International, Inc.
  • China Airlines Warehouse Co. Ltd.
  • Mandarin Airlines Ltd.
  • Taiwan Airport Services Co. Ltd.

Competitors

  • China Eastern Airlines Corporation Limited Class H
  • China Southern Airlines Company Limited Class H
  • Eva Airways Corporation
  • Nippon Yusen Kabushiki Kaisha
  • Singapore Airlines Ltd.
  • Qantas Airways Limited
  • Cathay Pacific Airways Limited
  • Korean Air Lines Co., Ltd
  • ANA Holdings Inc.
  • Japan Airlines Co., Ltd.
  • Thai Airways International Public Co. Ltd.
  • Delta Air Lines, Inc.
  • Asiana Airlines Inc.
  • Air China Limited Class H
  • Turk Hava Yollari A.O.
  • Deutsche Lufthansa AG
  • Air Canada
  • Air France-KLM SA
  • International Consolidated Airlines Group SA
  • Aeroflot-Russian Airlines PJSC
  • Atlas Air Worldwide Holdings, Inc.
  • Norwegian Air Shuttle ASA
  • LATAM Airlines Group SA
  • Ryanair Holdings Plc
  • American Airlines Group, Inc.
  • United Airlines Holdings, Inc.
  • United Parcel Service, Inc. Class B
  • Deutsche Post AG
  • easyJet plc
  • FedEx Corporation
Last Updated on 9 Apr, 2020

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