Taiwanese airline TransAsia is shutting down after fatal crashes

Company - Pavan Pandey - Nov 30,2016

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taiwanese airline transasia is shutting down after fatal crashes

The Taiwanese airlines TransAsia Airways Corp. has suffered two deadly crashes since 2014; as a result it is closing down its services and suspending all scheduled flights.

The Taiwanese airlines that served in cities Japan, China and Southeast Asia, announced on Tuesday that it was shutting down its entire services following heavy losses and two major fatal airplane crashes.

 TransAsia Airways is the third largest airline company in Taiwan. The airlines has been charged with a poor safety record by Taiwan’s regulator. TransAsia had already shut down its low-cost offering airline series, V Air, last month. During a news briefing regarding the closing of the airlines, TransAsia Chief Executive Officer Daniel Liu said, “This is very painful choice for the company.”

After suffering massive financial losses, the board members reached the decision to close the struggling airways. This carrier operates 27 routes with a fleet of 16 airways in the facility and also employs approximately 1,800 workers in the company. In July 2014, TransAsia’s flight GE222 crashed in a storm during the landing approach; the plane crashed into trees and buildings near Magong city on Taiwan's scenic Penghu Island. A total of 48 people were killed in this fatal crash. After seven months of this accident, another plane of TransAsia, flight 235, dramatically crashed in the Keelung River. In this tragedy, total of 43 people were killed.

Early this year, the Aviation Safety Agency of Taiwan urged TransAsia Airways to review upon its pilot training, safety protocols and hiring practices so as to reduce the imminent risk for the airlines and passengers. The Chairman Mr. Vincent Lin said in a statement, the airline was unable to recover its widening losses or raise additional fund. It was also confirmed that, the amount of tickets for future flights would be refunded to the customers.