TransAsia Airways to shut down

TransAsia Airways to shut down

Postby cranky laowai » Mon Nov 21, 2016 17:12

TransAsia Airways (Fùxīng Hángkōng) will be ceasing operations.

This is the same airline that had a plane crash into the river in Taipei last year, and just the year before had a plane crash in Penghu.

When I went to Jinmen last month I could have saved several thousand NT by flying Transasia. :noway: Apparently a lot of other people felt the same way.

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Re: TransAsia Airways to shut down

Postby Icon » Tue Nov 22, 2016 09:40

The system benefits failure:

Taipei, Nov. 22 (CNA) The chairman of TransAsia Airways and two other senior executives were questioned by prosecutors early Tuesday over possible insider trading in the company's shares just hours after the airline suddenly announced a suspension of services.

TransAsia Chairman Vincent Lin (林明昇), Chief Executive Officer Liu Tung-ming (劉東明) and Chief Financial Officer Yang Hsuan-yi (楊炫儀) were summoned to the Taipei District Prosecutors' Office for questioning in the early hours of Tuesday, according to law enforcement sources.

The session lasted for about three hours. The trio made no comments to waiting reporters when they walked out of the prosecutors' office at about 4 a.m.

The three were questioned after Shih Jun-ji, chairman of Taiwan Stock Exchange, said that there were "clear signs of insider trading" involving the company's shares.
At one point during the trading session on Monday, TransAsia denied the rumors and claimed there was a glitch in its booking system, making it impossible for passengers to buy tickets after November.

The company later announced that it had canceled all flights scheduled for Tuesday, affecting more than 5,000 passengers who have already purchased a ticket.

Including those specials sold at the travel fair a week ago: 5000 ntd round trip Taipei-Tokyo
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