Announcement • Jun 29
EVA Air Debuts First Washington D.C. to Taipei Nonstop Service EVA Air celebrated the launch of its new nonstop service between Washington D.C. and Taipei, marking a significant expansion as the airline's 10th North American gateway. As the first airline to offer nonstop service between these two cities, the new route represents a key milestone in strengthening connectivity between Taiwan and the U.S. East Coast. A special inaugural ceremony was held at Washington Dulles International Airport to commemorate the milestone and welcome the inaugural flight. The Washington, D.C.–Taipei route operates four weekly flights utilizing Boeing 787-9 aircraft configured with Royal Laurel Class, Economy Class, and EVA Air's Premium Economy Class. This newly introduced fourth iteration of the PE class is designed to elevate the in-flight experience and offers one of the industry's most generous seat pitches, delivering enhanced comfort and functionality for long-haul travelers. The flight schedule is as follows: Route Flight No. Frequency Departure time Arrival time Washington, D.C.-Taipei BR003 2.4.6.7 01:50 05:45+1 Taipei-Washington, D.C. BR004 1.3.5.6 19:30 22:30. Following the launch of the Washington, D.C. route, passengers will benefit from a direct connection to Taipei with convenient onward access to EVA Air's extensive network across Asia. With seamless transfers at its Taipei hub, EVA Airways Corporation continues to expand its presence in the North American market, now serving 10 key gateways, including Los Angeles, San Francisco, Seattle, New York, Houston, Dallas-Fort Worth, Chicago, Washington D.C., Vancouver, and Toronto, with 98 flights per week. EVA Airways Corporation has consistently been recognized as one of the world's safest airlines, maintaining its SKYTRAX 5-Star Airline rating for 11 consecutive years and earning top safety rankings from AirlineRatings.com for 13 consecutive years. The carrier has also received industry recognition for its premium service, including awards for its in-flight beverage program. Declared Dividend • Jun 24
Dividend reduced to NT$2.00 Dividend of NT$2.00 is 17% lower than last year. Ex-date: 8th July 2026 Payment date: 7th August 2026 Dividend yield will be 4.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 11% over the next 3 years. However, it would need to fall by 58% to increase the payout ratio to a potentially unsustainable range. Major Estimate Revision • May 29
Consensus EPS estimates increase by 65%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from NT$252.1b to NT$241.2b. EPS estimate rose from NT$1.93 to NT$3.19. Net income forecast to shrink 39% next year vs 21% decline forecast for Airlines industry in Taiwan. Consensus price target broadly unchanged at NT$40.24. Share price rose 2.8% to NT$36.50 over the past week. 
