The China Post
Date: November 23, 2016
By: Sun Hsin Hsuan
Sixty-five years after its founding, TransAsia Airways announced Tuesday that its board had decided to
TransAsia Airways Chairman Vincent Lin (林明昇), center, bows to apologize for the decision to shut down the carrier, in Taipei, Tuesday, Nov. 22. (CNA)
dissolve the company and to cease all flights.
TransAsia Airways Chairman Vincent Lin yesterday apologized to company staff in an emotional statement at a press conference.
“The dissolution of the company is a painful decision,” Lin said.
“We have tried to find domestic and international agencies, partners, and even new operation teams to help reverse the outcome, but regrettably, none of the solutions worked.”
The company suffered two of the country’s most deadly crashes in 2014 and 2015 and has not made a profit since, according to the chairman.
Since this January, the company has lost NT$200 million to NT$300 million every month. [FULL STORY]
