CAL, EVA shares extend relief loan-linked ralliesLIMITED-USE: State-run banks are to provide loans of NT$20 billion to both airlines, which can only use the funds to cover operational expenses such as salariesBy Kao Shih-ching / Staff reporterChina Airlines Ltd (CAL, 中華航空) and EVA Airways Corp (長榮航空) shares yesterday continued their rally for a fourth day as the market welcomed news this week that the two airlines were each approved to receive relief loans of NT$20 billion (US$671.1 million). CAL gained 1.6 percent to NT$8.25 and EVA rose 1.77 percent to NT$11.5 in Taipei trading. However, CAL and EVA have this year seen their shares plunge about 20 percent and 25 percent respectively, Taiwan Stock Exchange data showed, as the COVID-19 pandemic has slashed demand for travel. UNI Airways is a subsidiary of EVA, while Mandarin Airlines is a unit of CAL. In establishing the relief scheme for airlines, the government set strict rules on how the funds can be used, with CAL and EVA saying that they would comply with the regulations.

Source: Taipei Times April 30, 2020 15:56 UTC