TAIPEI (Taiwan News) – Now that the COVID-19 pandemic is over, it's normal for fares to fall and for competition to heat up, Starlux Airlines Chair Chang Kuo-wei (張國煒) said Friday.

He told an investors meeting that competition has grown more intense with the presence of numerous budget airlines, per CNA. Chang said airlines could no longer afford to wait around but had to hurry when purchasing new aircraft.

Responding to investors criticizing the company’s financial performance, Chang said it was unfair to compare Starlux with Taiwan’s other main airlines. Eva Air has been in business for 30 years, and China Airlines for 60 years, while Starlux only launched five years ago.

During the initial phase following the pandemic, an imbalance between supply and demand drove fares higher, but the situation has now stabilized, taking fares down to a reasonable level, Chang said.

He predicted Starlux would soon announce plans for the purchase of new aircraft, while 2026 would see the launch of flights to European destinations. The company posted revenue of NT$35.54 billion (US$1.2 billion) for 2024, an increase of 58% from the previous year. After-tax profit reached NT$1.32 billion last year, or 788% more than in 2023, Liberty Times reported.