Takeover could go through before Jan. 11

The China Post
Date: December 14, 2016
By: Sun Hsin Hsuan

TAIPEI, Taiwan — If everything goes smoothly, Far Eastern Air Transport’s (FAT, 遠東航空)

FAT Chairman Fenno Chang talks to The China Post on Monday, Dec. 12. (Morgan Lin, The China Post)

potential takeover of TransAsia Airways (復興航空) could be completed before TransAsia’s extraordinary general meeting scheduled for Jan. 11.

FAT told The China Post on Tuesday that the deal requires approval from TransAsia’s creditor banks and the court.

FAT has recruited some of TransAsia’s former staff, primarily mid-level managers, and has reached out to TransAsia’s creditor banks to discuss the airline’s takeover, said Huang Yu-chi (黃育祺), the office manager for FAT Chairman Fenno Chang (張綱維).

Chang broke the news of the takeover plan during a recent interview with The China Post.

Once the court approves a restructuring plan submitted collectively by the banks, FAT will be able to take over the airline without going through an EGM slated for Jan. 11 of next year, Huang said.    [FULL  STORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.