Former CAA chief interested in TransAsia takeover

A former head of the Civil Aeronautics Administration (CAA), Billy Chang, says he and his backers are interested in taking over TransAsia Airlines.

In a surprise announcement last week, TransAsia announced it would end operations due to financial difficulties. The airline had struggled to recover after fatal crashes in 2014 and 2015 that led to a drop in bookings. The airline's sudden closure leaves 1,700 people out of work.

Chang said Tuesday that he has been commissioned by a group of backers to express interest to take over TransAsia. Chang did not reveal the identity of the backers.

Our team of backers is interested in taking over TransAsia Airlines. We are hoping that we can alleviate some of the government's worries and solve some of the issues TransAsia faces, especially the employment of its 1,700 staff. We hope the CAA will consider our bid and postpone the withdrawal of TransAsia's flight rights and routes. We hope to meet with TransAsia's CEO after this press conference and discuss a decision, said Chang.

Vice Transport Minister Wang Kuo-tsai said that Chang's announcement was premature, though he also said he hopes the two sides can reach an agreement.

Source: Radio Taiwan International