Far Eastern Air Transport said it is confident of taking over Taiwan’s shuttered low cost carrier TransAsia Airways.
Far Eastern plans to conduct a full restructuring of the business in the first few months with the aim of making it profitable ‘within half a year.’
"We are now speaking with some banks and are 80% certain we will be able to take over TransAsia," FAT chairman Fenno Chang told the China Post.
He is interested in re-employing laid-off TransAsia staff members.
"I hope to hire back TransAsia’s former staff. We are expecting to take on 1,000 people."
Far Eastern Air’s chief operations officer CC Tseng said if a deal is reached TransAsia would be renamed to Far Eastern United Air.
TransAsia was the third largest airline in Taiwan before abruptly closing last month citing heavy losses, brought on by two fatal crashes in two years.
