TransAsia Airways was a full-service airline based at Taipei Songshan Airport in Taiwan. TransAsia was a short-haul carrier, operating domestic services within Taiwan and short-haul international services from Taiwan to destinations in mainland China, North Asia and South East Asia. On 09-Aug-2016, TransAsia Airways announced its board had approved plans to integrate wholly-owned subsidiary V Air with the carrier, with the LCC to cease operations. Chairman Vincent Lin said the move was aimed at expediting reconstruction of TransAsia Airways Group. The company commenced the transition programme in Oct-2016, with V Air ending service operations on 30-Sep-2016.
On 22-Nov-2016, the TransAsia Airways board approved plans to dissolve the company and suspend all services, effective immediately. The dissolution was formalised on 12-Jan-2017, after an extraordinary general meeting between shareholders. The carrier attributed the decision to two fatal crashes, financial losses and an alleged insider trading investigation. Chairman Vincent Lin explained: "We choose to dissolve the company at this time when our assets still exceed our liabilities, and we are still able to take care of our employees and passengers." He also said that the decision to dissolve the company was a "painful decision," adding "we have been trying to find professional institutions at home and abroad, partners, and even new management team to help revitalise the company."
To have full CAPA Profile access you need a CAPA Membership
Your portal for aviation data
CAPA Profiles contain the most up to date news and analysis plus a comprehensive range of timely and reliable data including schedules, capacity share (passenger and cargo), fleet summary, traffic results (monthly and annual), financial results and more. Access Profiles for the latest statistics and insights on airlines, airports, suppliers, countries and regions.
I didn't realise all this traffic data was here. The data is much more up-to-date than the other results we usually use - I'll be using this from now on.- Air Services Development Manager, Airport Member.
Phone: +61 2 9241 3200 | Email: email@example.com