China Airlines (2610) Q2 2026 earnings summary

Executive summary

• 2026H1 revenue reached NT$120.8 billion, up 16.1% year-over-year, driven by strong passenger and cargo growth.

• Passenger revenue rose 8.5% and cargo revenue surged 25.1% year-over-year, optimizing the revenue mix and supporting overall expansion.

• Premium cabin revenue share increased to 32%, and ancillary revenue grew to NT$1.4 billion.

Financial highlights

• Operating revenue: NT$120.8 billion (+16.1% YoY); passenger revenue: NT$70.25 billion (+10.6% YoY); cargo revenue: NT$40.18 billion (+24.9% YoY).

• Net operating income: NT$9.1 billion (-20.7% YoY); net income after tax: NT$7.7 billion (-13.6% YoY); EPS: NT$1.08 (-18.2% YoY).

• Book value per share increased by NT$3.49 since 2023Q4, reaching NT$16.29 as of June 2026.

Outlook and guidance

• Global passenger demand remains resilient, with IATA projecting 2.1% RPK growth and a record 84% load factor in 2026.

• Passenger yield expected to rise 7% globally, with ticket revenue up 9.2% YoY.

• Air cargo market forecasted to grow 0.7% in 2026, with Asia-Pacific as the primary driver.