A Quick Overview Of Taiwan’s EVA Air And Its Ascent To Greatness
Posted at by ifydcat on category FinanceEvergreen Airways was the initial name of an airlines that eventually became EVA. When Evergreen Airways needed to change their name, all they did was take the EVA from their original name. Another airline business had the name Evergreen in it already, so they decided to change their name. EVA flies out of the island country of Taiwan and provides services to Asian and international destinations. EVA’s past history is much the same as any other airline, because they all experience similar things. EVA had financial difficulties in the middle years of the 2000s, but they have survived and are profitable, once again.
2010 was an active year for EVA in many respects. They had expanded routes and management changes as well as bids for even more partnerships. The company developed a greater number of inroads to places in Canada with a new service route in to Toronto. Farther along in the year, they launched a connecting flight from Taipei to Tokyo. Taken as a whole, the year was potent as the company accounted that their annual profits had progressed. In the intermediate, there will be anticipation of new growth wherewithal. The explanation for this is EVA has placed their application with the Star Alliance of linked airlines. Subsequent to approval, EVA will have even more excellent things occurring for them.
After the turn of the century, EVA went full throttle trying to garner as much business as possible. They were able to do this because they had an air fleet that made it possible for this to happen. Once they had ordered four 777-300ER long-range planes from Boeing, they were on their way. Boeing 777 variants also became part of the fleet. The long-range aircraft and airliners were used to garner business from Europe and also the United States. Airbus A330-200 aircraft were also used for Asian-based destinations.
EVA encountered severe financial distress beginning in 2007 as fuel prices rose by almost 35%. Higher fuel costs gave EVA big losses, but they were not the only airline company to have the same problems. Even in Taiwan, an airline like EVA, is completely at the mercy of oil prices for the continuation of the business. The airline industry is a special type of business because it is so depending on lower fuel costs to continue to operate. They employed a variety of cost saving strategies including altering and reducing flight schedules plus some staff reductions in the US.
EVA Air is one of many airlines operating from an Asian base yet seeking to establish an international presence. Travel has never been better for those in Europe and Asia because of the business and economy travel packages that they offer. There were no profits, and great losses, less than a decade ago for EVA because of exponentially high fuel costs that were crippling everyone. However, they were able to respond with appropriate cost-cutting measures to help minimize damage. Our dependence upon fossil fuels made it very difficult for any airline to survive during these times. So that is truly not a bad performance for a smallish airline from the small country of Taiwan.
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