Taiwan’s third largest airlines, TransAsia Airways (IATA Code: GE), announced today that the company will be dissolved, citing operational and financial difficulties, especially after two fatal crashes in July 2014 and February 2015. All flights were halted since yesterday, and the company will refund all tickets to passengers. Employees are being given notices and laid off, and labor disputes are expected. China Airlines has offered to assist travelers stranded overseas due to the flight suspension.
Established in 1951, TransAsia Airways is the first privately-owned airlines in Taiwan. It started primarily as a domestic carrier, but expanded to operating international flights in in 1995 to Indonesia and flew to 6 domestic and 26 international destinations (mostly within Asia) before today. It operated 16 short- and mid-range planes. Prior to the crashes, TransAsia Airways attempted to broaden its passenger base by establishing a low-cost carrier, V Air, in 2014, only to then merge it back with the main company in August this year. TransAsia Airways also served as the ground handling agent for several international carriers, including Thai Airways, Jetstar Asia, Cebu Pacific, Xiamen Airlines, and Sichuan Airlines.