The China Post
Date: November 25, 2016
TAIPEI –The Executive Yuan reiterated Thursday that China Airlines (CAL, 華航), one of Taiwan’s leading international carriers will take over all domestic and overseas routes from financially troubled TransAsia Airways (復興航空) as a temporary measure after TransAsia announced earlier this week that it is closing due to massive losses.
Executive Yuan spokesman Hsu Kuo-yung (徐國勇) said that Premier Lin Chuan (林全) has instructed CAL to take over all services from TransAsia, starting from Dec. 1.
On Tuesday, TransAsia announced that it would be dissolved after incurring heavy losses amid escalating competition in the airline business. The closure news caught investors and the aviation market off-guard, as the carrier is the first listed company to seek closure as a result of financial woes.
The company had announced only a day earlier that it would stop all flights on Tuesday. [FULL STORY]