Starlux Airlines raises $293m in IPO and aims to build freighter fleet
Starlux Airlines, the airline founded by ousted Evergreen scion Chang Kuo-wei, was listed on the ...
PLD: REBOUND MATTERSAMZN: MULTI-BILLION LONG-TERM MEXICO INVESTMENTDSV: WEAKENING TO TWO-MONTH LOWSKNIN: ANOTHER LOW PG: STABLE YIELDAAPL: GAUGING EXPECTATIONSXOM: GO GREEN NOWKNIN: BOUNCING OFF NEW LOWS HON: BREAK-UP PRESSURECHRW: UPGRADESZIM: LAGGARDFWRD: LEADINGMAERSK: OPPORTUNISTIC UPGRADETSLA: GETTING OUTDSV: DOWN BELOW KEY LEVELLINE: DOWN TO ALL-TIME LOWS
PLD: REBOUND MATTERSAMZN: MULTI-BILLION LONG-TERM MEXICO INVESTMENTDSV: WEAKENING TO TWO-MONTH LOWSKNIN: ANOTHER LOW PG: STABLE YIELDAAPL: GAUGING EXPECTATIONSXOM: GO GREEN NOWKNIN: BOUNCING OFF NEW LOWS HON: BREAK-UP PRESSURECHRW: UPGRADESZIM: LAGGARDFWRD: LEADINGMAERSK: OPPORTUNISTIC UPGRADETSLA: GETTING OUTDSV: DOWN BELOW KEY LEVELLINE: DOWN TO ALL-TIME LOWS
Taiwan’s Starlux Airlines is doubling-down on its cargo ambitions, ordering five more A350Fs on top of an initial order for five last year.
The carrier said it was making cargo a key part of its business.
“The cargo market is set to become a key element in our business model, and will benefit from the advantages offered by Taiwan’s geographical location,” said CEO Glenn Chai.
“The A350F is the perfect choice for Starlux, offering a similar payload-range capability as previous-generation freighters, but with very significant reductions in fuel consumption and carbon emissions.”
Starlux operates 26 Airbus aircraft – the A321neo, A330neo and A350-900.
The carrier last year listed on the Taiwan Stock Exchange after an IPO which raised TW$9.4bn ($293m).
Starlux’s primary focus is tapping into Taiwan’s potential as a key transit hub for Asia-Pacific. Chairman Chang Kuo-wei, the youngest son of Evergreen and EVA Airways’ founder Dr Chang Yung-fa, was EVA chairman but founded Starlux in 2016, after being ousted from the family business by his half-brothers.
He noted last year that the island was an ideal stopover for routes connecting South-east Asia with North America.
Mr Chang said: “While new-generation aircraft offer greater range, routes from North America to South-east Asia still face limitations, as they can typically only reach as far as Hong Kong without requiring a stop. Taiwan serves as the best stopover for connecting these markets.”
The carrier has no freighters currently and it is unclear when the first A350F – still under development – will be delivered. However, Starlux’s belly cargo arm is seeing higher growth than its passenger business.
CEO Glenn Chai had claimed Starlux was gaining more cargo business from its home country, particularly Taiwan’s AI and microchip industries that have generated more exports.
Meanwhile, another carrier with big ambitions in cargo – which were put on hold post-pandemic – is also set to start flying its first freighter.
Eastern Air Cargo, which had planned to semi-convert a number of 777s into a cargo format but struggled to get certification, has released a video showing its first 737F.
Acquired from partner iAero Airways last year, the near-40-year-old aircraft was promoted on Instagram with the words: ”This may not seem like much, but to us it’s continuing our legacy. Watch us grow.”
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