StarLux Airlines (2646) held its shareholders' meeting today (13th) and approved the 2024 financial report, reporting a total revenue of NT$35.547 billion, a year-on-year increase of 58.2%. The net profit after tax reached NT$1.324 billion, representing a staggering 788% increase, with earnings per share (EPS) of NT$0.53. Despite the record profits, the board of directors decided not to distribute cash dividends, considering the need for capital expenditures and expansion. Instead, all earnings will be reinvested into fleet expansion and global network development to pave the way for long-term growth.

Breaking down the operational structure, the passenger revenue for 2024 reached NT$30.728 billion, accounting for 86.4%, with a year-on-year growth of 55.6%. Cargo revenue also saw an impressive NT$3.153 billion, an increase of 97.7%, primarily benefiting from the expansion of wide-body aircraft and increased cargo capacity, resulting in an annual passenger volume of 4.07 million and a cargo volume exceeding 55,000 tons. The profitability structure has also improved, with a net profit margin of 3.73%, return on assets of 2.13%, and return on equity of 6.48%.

Chairman Zhang Guowei stated that while the company has stabilized its profitability, it must consider the accumulated losses on its balance sheet and the high uncertainty in the international political and economic situation. Therefore, it will continue to enhance its financial foundation and capital structure in the short term. "I hope shareholders can give me a little more time. The company needs to expand steadily to establish a foundation for stable future dividends," he expressed. As of this year, the fleet size has expanded to 26 aircraft, with 11 new routes launched that cover 7 new destinations, and the overall network spans 27 cities in 9 countries.

Looking ahead, Zhang indicated that StarLux will accelerate its network expansion, planning to start its European routes by 2025. The New York destination is also under active evaluation. In the Asian market, flight operations to Asahikawa, Japan, will not commence in the short term due to insufficient ground handling and fuel facilities. Moreover, operations to Haneda are limited by regulatory scrutiny and political sensitivity, restricting significant increases in services, although growth potential remains for the future. In terms of fleet planning, StarLux currently holds orders for 17 A350 aircraft and is assessing options for 10 more aircraft while also launching evaluations for a new round of narrow-body aircraft procurement.

Regarding operational challenges that investors are concerned about, Zhang acknowledged that the company has faced several external variables this year, including U.S.-China trade tensions, fluctuations in student visa policies, civil unrest in North America, and rumors of an earthquake in Japan on July 5, all of which have impacted market sentiment. "Trump acts like a madman, every day doing something unpredictable. We still don't know what will happen in the third and fourth quarters," he commented. However, he observed that overall passenger demand remains resilient, maintaining a cautiously optimistic outlook for full-year operations in 2025, with high-end market positioning and differentiated services being key competitive advantages for StarLux's future growth.

In response to recent aviation safety incidents, StarLux addressed the issue positively at the shareholders' meeting. Zhang mentioned that the company proactively reported the operation errors of some pilots and completed the necessary handling swiftly; the two involved pilots have voluntarily resigned. He reiterated that StarLux adopts a zero-tolerance policy for aviation safety and strictly adheres to the principles of fairness, justice, and transparency. "Pilots receiving high salaries must bear corresponding responsibilities; aviation safety is the lifeline of an airline and should not be taken lightly," he concluded.