Taiwan-based carrier STARLUX Airlines has announced the successful completion of its IPO listing on the Taiwan Stock Exchange (TWSE).
This follows STARLUX's October record-setting pre-IPO auction and public subscription, which the carrier said saw an oversubscription rate of 2.2 times, the largest in TW market history.
"This is an exciting moment for all of us at STARLUX," said K.W. Chang, chairman of STARLUX. "Our passengers' support and recognition motivate us to continuously improve and grow. And our dedicated employees' relentless pursuit of excellence has enabled us to achieve significant milestones."
"Going forward, we'll stay true to our mission — to innovate and expand internationally. We're committed to providing superior services to global travellers while emphasizing corporate governance to build a sustainable airline," he added.
For 2023, STARLUX reported NT$22.472 billion (US$704.8 million) in revenue, a 568% year-on-year increase, with the company posting a profit of NT$149 million (US$4.66 million USD) in the first post-pandemic year.
From January to September 2024, its revenue was NT$25.927 billion (US$812.5 million), already a 63% increase over last year.
STARLUX noted that cargo and passenger revenue grew significantly in the first nine months of the year.
Cargo revenue reached NT$2.117 billion (approximately US$66.3 million), marking a 91% increase compared to the previous year. This significant growth can be attributed to the introduction of new wide-body aircraft, which expanded belly cargo capacity on North American routes. Additionally, heightened demand driven by AI and e-commerce has resulted in a shortage of cargo space and record-high freight volumes.
Looking ahead, Chang is optimistic about Taiwan's potential as a key transit hub for cargo and passenger traffic in the Asia-Pacific region.
He noted that Taiwan's geographic location makes it an ideal transhipment point for routes connecting North America to Southeast Asia.
STARLUX said it will continue to expand its fleet to boost capacity and launch new routes. It will also pursue codeshare agreements with other carriers.
STARLUX serves 23 routes from Taiwan to the US, Japan, Macau, Vietnam, Thailand, the Philippines, Malaysia, and Singapore.
Cargo market expansion
Earlier this year, the carrier signed a purchase agreement with Airbus for five all-new Airbus A350F freighters and three more A330neo widebody aircraft, with the option to acquire an additional five A350Fs.
STARLUX CEO Glenn Chai said the carrier has continuously nurtured the cargo market since its inception, capitalizing on the strategic advantages offered by Taiwan’s geographical location.
“With this order, STARLUX becomes the first Taiwanese airline to operate the next-generation A350F widebody freighter. In an era of climate change, the A350F with Rolls-Royce Trent engine has unbeatable efficiency in terms of fuel burn, CO2 emissions, and economics, offering significant energy-saving and carbon reduction benefits," he added.
STARLUX currently operates a fleet of 21 aircraft, including 13 A321neo, four A330neo, and four A350-900 aircraft. The current backlog includes four A330neo and 14 A350 aircraft.
The carrier earlier noted that the newly signed three A330neos are slated for delivery starting in 2025 and will remain dedicated to medium and long-haul routes.
The five A350F freighters are scheduled for delivery in 2027, bringing the total fleet size to 47 aircraft.
