Taiwan's second-largest carrier, EVA Airways, has upgraded its annual financial forecast for the second time, after better-than-expected revenues from its cargo operations since September. The airline said it now expected annual net income to be NT$2.54 billion (about HK$570.4 million), a 56 per cent jump compared to an earlier forecast of NT$1.63 billion. EVA's expected operating margin has also been adjusted from 6.3 per cent to 7.5 per cent due to a reorganisation and better cost controls. Annual operating revenue was expected to exceed NT$64 billion, a 2 per cent increase over the previous forecast revenue of NT$62.76 billion, which the airline attributed to increased revenue from a robust cargo business. 'The outlook for passenger business remains steady and is at the same level as the previous forecast. Cargo revenue for the fourth quarter has been raised from NT$7.4 billion to NT$8.5 billion. With this 15 per cent climb, total revenue for the year will reach NT$64.16 billion, 2 per cent above the previous forecast,' the airline said. Fuelled by good cargo growth, EVA recorded a record-high revenue growth of 46 per cent last month to NT$6.17 billion, up from NT$4.2 billion a year ago. 'Strong cargo demand, especially on US routes, produced historically high revenue of NT$3.2 billion,' the carrier said. Cargo load factor was 80.43 per cent last month, compared to 74.73 per cent in the same period last year. Passenger revenue rose 27.9 per cent to NT$2.54 billion. Cumulative revenue for the first 10 months of this year grew to NT$52.9 billion, up by a comparative 21.9 per cent.