TAIPEI (Taiwan News) — Tigerair Taiwan hit its daily limit, breaking the NT$100 (US$3.31), while EVA Air and China Airlines stocks soared amid a rising New Taiwan dollar, which is expected to fuel a travel boom.

The strong New Taiwan dollar, along with falling international oil prices, benefiting profitability, led to a sharp rally in airline stocks, per CNA. Travel to Japan has been popular among Taiwanese tourists, and the New Taiwan dollar’s recent surge includes a favorable exchange rate with the yen, likely leading to more trips to Japan.

Taiwan's four major airlines are expanding flights to Japan and setting up new destinations. The number of flights between Taiwan and Japan has exceeded 530 per week, and Taiwanese air carriers are expected to continue to expand business opportunities.

Tigerair Taiwan opened higher on Monday and continued to rise, hitting the daily limit during trading and achieving its second daily limit-up in a row. Its share price broke through the NT$100 mark and closed at a new high of NT$103.5.

Commenting on the US tariff policy, EVA Air President Sun Jia-ming (孫嘉明) recently said that passenger traffic continued to grow in the first half of the year. However, Sun said summer bookings remain cautious. 

Sun said most cargo charter flights are operating as usual, and new Southeast Asian cargo routes have been added. He said that in the second and third quarters, especially with back-to-school stocking, the air cargo could become increasingly congested.

Tigerair Taiwan previously reported a record-breaking first quarter, posting after-tax net profit of NT$943 million, the strongest Q1 performance in its history and the second highest for any quarter. Earnings per share reached NT$2.05.