By: Tien Yu-pin and Frances Huang
Taipei, Nov. 26 (CNA) Shares of Taiwan-based TransAsia Airways (復興航空) have been downgraded to
the status of “full delivery” stock after the carrier said Tuesday it is closing down because of unsustainable heavy losses, according to the Taiwan Stock Exchange (TWSE).
The downgrade in status for TransAsia shares became effective on Wednesday after trading of the stock was suspended for one day on Tuesday, when investors waited for a decision on the fate of the company.
TransAsia shares fell 7.14 percent on Monday on speculation that the carrier might shut down.
Following TransAsia’s announcement Tuesday that it would stop its flight operations, effective immediately, and would dissolve the company, the TWSE decided to put TransAsia shares in the full delivery stock category starting Wednesday, when trading of the stock resumed. [FULL STORY]