BITING THE BULLET: Asset impairments last year reached NT$5 billion, due to the airliner’s efforts to update its aging fleet, CAL chairman Ho Nuan-hsuan said
By Ted Chen / Staff reporter
Date: Mar 15, 2018
By: Ted Chen / Staff reporter
China Airlines Ltd (CAL, 中華航空) yesterday gave a positive outlook on earnings for this year, after the company weathered steep asset impairments last year.
Ahead of the release of its latest financial results next week, CAL said sales for last year could total NT$156.34 billion (US$5.34 billion), representing an annual gain of 10.7 percent.
That figure factors in steep asset impairments totaling NT$5 billion that were booked last year as part of efforts to update the carrier’s aging fleet, CAL chairman Ho Nuan-hsuan (何煖軒) told a news conference in Taipei.
“We choose to bite the bullet and book the entirety of last year’s charges to ensure the company’s growth prospects,” Ho said, adding that CAL is now in a much improved position. [FULL STORY]