Painful decision: TransAsia operates 27 routes with a fleet of 16 aircraft in service and employs some 1,800 people. The plan to shut down the firm will need to be approved by shareholders. – Reuters
TAIPEI: Taiwan’s TransAsia Airways Corp said it would wind down operations and suspend all scheduled flights, failing to recover from two plane crashes in almost three years.
Struggling to overcome safety concerns raised by Taiwan’s regulator, the island’s third-largest carrier has also been hit by intense regional and domestic competition and has reported losses for the previous six quarters.
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