Defunct TransAsia Airways finds buyers for 11 of its aircraft

Focus Taiwan
Date: 2017/04/23
By: Tien Yu-pin and S.C. Chang

Taipei, April 23 (CNA) TransAsia Airways, which ended operations on Nov. 22, 2016

(CNA file photo)

because of insurmountable financial woes, has reached an agreement with a buyer to conditionally acquire 11 of its aircraft for US$364 million, the airline said.

The highest bidder for the 11-plane package consented, however, to TransAsia selling any of the 11 airplanes to the second highest bidder because the deal could take a long time to complete, the airline said in a statement released on Sunday.

Based on that condition, TransAsia has decided to sell four A330s and A321s to the second highest bidder, with whom it will sign a contract on April 25, the statement said.

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