Taiwan’s Far Eastern Air Transport abruptly suspends all operations

Saturday, 13 Dec, 2019 0

This year has seen an unusually high number of airline failures and it looks like yet another has bitten the dust.

Taiwan’s Far Eastern Air Transport Corp. FAT) has announced an abrupt end to all flight operations.

It cited growing financial difficulties due to a lack of cash reserves.

According to local media, more than 3,000 passengers with bookings are impacted.

At a joint press conference with the Civil Aeronautics Administration FAT deputy general manager Huang Yu-chi said it is only a temporary closure.

The airline is only ‘suspending’ its operations due to a shortage of cash and hopes to restart flights soon.

The Taiwan CAA said FAT has been defaulting on loan repayments and the regulator had been monitoring the airline’s financial health for some time.

Due to the abrupt nature of the collapse, airline chairman Chang Kang-wei will be barred from leaving Taiwan.

The CAA had been trying to contact Chang for the past few days.

According to the Civil Aviation Act, Chang could be fined and jailed for failing to give 60 days’ notice of an air service suspension.

It could also face more action over not giving the same required notice period for mass redundancies.

Founded more than 60 years ago, the airline declared bankruptcy a decade ago and actually closed down for three years before resuming operations.

below social share icons

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

The State of Michigan is blessed with the riches of unspoiled nature: the nation’s longest freshwater coastline, lakes that feel like...

Central Florida’s Polk County is conveniently located between Orlando and Tampa, and an easy drive to Central Florida attractions and...

IHG Hotels & Resorts: Redefining Hospitality Excellence IHG Hotels & Resorts is a globally renowned hospitality company that stands at...

Home to America’s Best Beaches, a vibrant arts community and amazing outdoor experiences, St. Pete/Clearwater is a sunny destination that...

To say Sweden is fit for a fairy tale is not overstating it—the palaces dazzle, the boreal forests are brimming...

NSW, Australia Welcome to New South Wales – a place to feel free, feel alive, feel new. As the official...

Welcome to Qatar Airways Qatar Airways is proud to be one of the youngest global airlines to serve all...

Ensuring our guests have an unforgettable experience while sailing with us is paramount; however, your health and safety remains our...

Holiday Extras is the UK market leader in airport parking, airport hotels, worldwide airport lounges, destination car hire, airport transfers...

Air Transat is Canada’s number one leisure airline. It flies to some 60 international destinations in more than 25 countries...

Located in the Mediterranean and connecting Asia and European continents that are separated by the famous Bosphorus, Türkiye is a...

Babble is a leading technology business that is reimagining how we do work. Founded in 2001, the company works with...

Cunard is the operator of luxury cruise ships Queen Mary 2®, Queen Victoria® and Queen Elizabeth®. Renowned for impeccable White...

WANDERERS WELCOME to MISSISSIPPI Mississippi is a state for all those who are wanderers at heart. From lush, forested Appalachian foothills to...

Destination British Columbia (Destination BC) is a Provincially funded, industry-led Crown corporation that supports a strong and competitive future for BC’s...