EVA is all set to upgrade their business class | Business Travel Blog

According to the up market news EVA has planned to reduce the number of seats in business class on the plane but is going to increase the fare of the remaining seats to as much as twenty percent. Only yesterday it was announced by EVA Airways that it had plans to spend hundred million US dollars that would be required to upgrade its business class in fleet of 15 Boeing 777-300 ER aircrafts. This was in the hope that focusing on the premium customers will help them increase their revenue.

EVA is the second largest airline carrier of the nation. The carrier seems to finish up gradation by the August next year. The first plane to get facelift is by the end of this month and is expected to operate from June 2nd on New York ? Taipei route. Chang Kuo-Wei who is the president of EVA in briefing to media told that as they are facing very tough competition in economy class services, the company wants to attract more premium customers to their airlines through up gradation. Chang also showed his concern on rising budget airlines that made it difficult for their company to focus entirely on the economy class. This is the reason why this company decided to follow the example of Singapore Airlines and Cathay Pacific Airlines to target and concentrate more business class passengers. Chang said that to attain this, the company thought of novel idea to reduce the number of seats and to increase the fare by 20 percent which would increase their revenue to a great extent. Chang also added that it was good idea to invest more when there is market downbeat and the prospects of airlines were low this year and was apt time for up gradation when all the product prices were low.

He also showed his expectation in the improvement of revenue in the second quarter as against the first quarter where there is higher sale in cargo and also the freight rate and volume is stable. However the peak season from July to September remains the most testing time for the airlines to show its ability added Chang and continued that rise in the fuel prices added to the woes and inversely affected the profitability of the company. Company is determined to put in hard work and vigorously trying to improve sales performance but all our hard work is only going to benefit and will be reaped by oil companies he said. Chang also added that unlike Delta Air Lines Inc, they did not have plans of buying oil refineries as they lacked the expertise of running the oil refining company.

According to TWSE ? Taiwan Stock exchange, EVA?s per share value was marked at NT$0.33 which meant net loss of NT$1.08 billion in the first quarter. Compared to this they had netted a profit of NT$269.32 million with per share rate of NT$0.08 last year. However the statistics show that the company has chalked in revenue of NT$25.57 billion for the period January to March which is a 5.7% increase from the last year.

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