Taoyuan International Airport, which experienced a dramatic NT$11.3 billion (US$3.3 billion) loss over the past three years due to the COVID-19 pandemic, is poised for a significant recovery in 2024. According to the Taoyuan International Airport Corporation, passenger traffic is expected to approach 44 million this year, roughly 90% of the volume seen before the pandemic. The airport, which had handled a record 48.68 million passengers in 2019, had reported a pre-pandemic after-tax profit of NT$8 billion. However, the pandemic\u2019s impact resulted in severe financial strain, with substantial losses reported from 2020 to 2022.<\/p>\n
The airport\u2019s chairman, Yang Wei-fuu, noted that while a modest profit was achieved last year, most of it was directed towards mitigating pandemic-related losses. Despite a lingering debt of NT$5.4 billion at the end of the previous year, the airport is on track to settle this debt by the end of 2024.<\/p>\n
Ongoing projects include the construction of the airport\u2019s third terminal, which is currently about 40% complete. The north concourse is scheduled to open by mid-2024, with the south concourse and the main terminal building expected to be operational by late 2027. The airport also faces an additional NT$300 billion in costs for various infrastructure projects, including an incinerator and a third runway.<\/p>\n
As the global travel industry rebounds, Taoyuan International Airport\u2019s recovery and expansion efforts are seen as crucial steps towards restoring its pre-pandemic status and accommodating the increasing passenger demand.<\/p>\n
Credit: Taiwan News<\/p>\n","protected":false},"excerpt":{"rendered":"
The airport\u2019s chairman, Yang Wei-fuu, noted that while a modest profit was achieved last year, most of it was directed towards mitigating pandemic-related losses.<\/p>\n","protected":false},"author":387,"featured_media":31882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[150,261,18188,18189,18190],"class_list":["post-31881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-taiwan","tag-covid-19","tag-taiwan","tag-taoyuan-international-airport","tag-taoyuan-international-airport-corporation","tag-yang-wei-fuu"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/31881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/users\/387"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/comments?post=31881"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/31881\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media\/31882"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media?parent=31881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/categories?post=31881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/tags?post=31881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}