Taiwan airline TransAsia shuts down

Troubled Taiwanese airline TransAsia says financial woes have forced it to shut down following two deadly crashes in the space of two years. TransAsia Chairman Vincent Lin announced on Tuesday that the company will be dissolved, leaving thousands of customers in the lurch. TransAsia made headlines around the world early last year when one of its planes was caught on camera clipping a bridge and plunging into a river in Taipei. The crash killed 43 people and prompted aviation authorities to come down hard on the company. The airline was already struggling financially and its losses have deepened since the crash. It lost $36 million in 2015 and $69 million in the first nine months of this year. TransAsia was also the subject of an investigation following a fatal crash in July 2014. Flight GE222 crashed while attempting to land in Penghu Islands, killing 48 people. Courtesy: CNN


Popular News
Latest News