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View all search resultsTaiwanese airline TransAsia shuts down after heavy losses
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A TransAsia Airways ATR 72-500 airplane taxis on May 18, 2014 in Taipei, Taiwan. (Shutterstock/File)
Taiwanese airline TransAsia has announced it is shutting down following financial losses and two fatal crashes.
TransAsia chairman Vincent Lin said Tuesday the airline, which served cities in China, Japan and Southeast Asia, was unable to reverse widening losses or raise additional money.
(Read also: Taiwan plane crash survivor says engine 'did not feel right')
TransAsia was established in 1951 as Taiwan's first privately owned airline.
The carrier suffered two fatal crashes in 2014 and early 2015, both in Taiwan, that killed a total of 92 people.
