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TransAsia in the water?

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TransAsia in the water?

Old 5th Jul 2016, 17:42
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I was taught IDENTIFY>VERIFY>SECURE. In crewed operations, every one of these are CONFIRMED by both crewmembers out loud...

What I am having a hard time understanding is what the training captain was doing this entire time...it's almost like he treated it like a training session and kept his mouth shut.
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Old 21st Nov 2016, 11:25
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TransAsia Airways to suspend operations: CAA | Economics | FOCUS TAIWAN - CNA ENGLISH NEWS

If you think safety is expensive, try having an accident.
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Old 22nd Nov 2016, 02:45
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More info here

TransAsia abruptly halts flights - Taipei Times
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Old 22nd Nov 2016, 07:31
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Yes too bad. Put near 2000 people out of work. Not only compensation paid, but govt sanctions to punish the airline after it's two accidents in two years (reduced flights, no new routes for a year, etc) plus 7 quarters of red ink finally forced them into suspension of operations. Next stop: liquidation of assets.

Formerly Taiwan's oldest airline (which had a previous 30 years of cessation of flight though). They stayed relevant through their catering and ground handling arms.
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Old 22nd Nov 2016, 08:05
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Seems a bit dodge... airlines gives 1 days notice and suspends all flights for a day... Continues to sell holidays and packages even when they have known they were going to suspend flight.. If you look into the finances, you'll find KMT central investments holding company produces about 15% of the shares in the airline...(previous government power)... with them no longer in power and struggling for money, you wonder where the finances in the airline have been redirected to... looks like there will be some spare A320/A321 and A330s for sale now...
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Old 22nd Nov 2016, 14:54
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TransAsia Airways to be dissolved | Society | FOCUS TAIWAN - CNA ENGLISH NEWS

TransAisa Airways will be desolved.
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Old 24th Nov 2016, 07:01
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China Airlines to fly TransAsia routes - Taipei Times

Taiwan handles these things differently ! China Airlines to step in and take over the Trans Asia routes and honor the existing tickets. The Govt will freeze TRans Asia assets to pay for these flights as well as compensate employees.

In other news Ci and EVA looking to hire Trans Asia pilots. Maybe the mechanics, ground crew, flight attendants, etc can also apply.

Oh and the Chairman restricted from leaving the island and being investigated (along with other execs) for insider trading.
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Old 24th Nov 2016, 11:57
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A good start. Now what about all their suppliers and other creditors. Strange that they only sold and leased back their ATR 600s last week in Dubai for example!!!

The CAAT and Taiwan in general is going to be assessed on how this is handled, and yes, I have a (6 figure) vested interest
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Old 24th Nov 2016, 16:35
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Ouch! I am reading losses widened from 1.1 billion TWD last year to this year's so far 2.2 billion TWD so management decided to close down while "assets exceeded liabilities". They own 11 of their 26 planes apparently . I don't know how the planes are valued at fire sale prices.

It was reported they owe banks at least USD 350 plus million. So it is going to be "interesting" how it is all going to pan out. Ci, which is largely govt owned (while EVA is not) has been drafted to go in there and honor the 100,000 or so already sold tickets and run the flights (at a huge loss to Ci I am sure, as it is unsure if Ci will actually see any money). The banks are rushing in to "secure assets" . It's a mess.

Good Luck getting the deposit back !!

Last edited by armchairpilot94116; 28th Nov 2016 at 07:40. Reason: additional info
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