Taiwanese LCC V Air will suspend all operations effective October 1st.
“The move is part of the company’s long-term transformation plans to optimize resource utilization and lower operating costs,” TransAsia chairman Vincent Lin announced regarding the situation.
The TransAsia airways subsidiary will be merged back into the parent company. It will continue to operate as usual until October. Passengers booked on flights to Osaka Kansai and Okinawa Naha will be transferred onto TransAsia flights to these cities, while those booked on flights to other V Air destinations will have to wait until TransAsia has obtained the traffic rights needed to serve these destinations. The LCC’s fleet currently consists of two A320s and two A321s.
V Air, which was launched in December 2014, recorded losses of NT$450 million last year (USD $14.31 million), and has lost even more money so far this year.
After absorbing its subsidiary, TransAsia hopes to become a versatile carrier capable of distinguishing itself from low-budget competitors, company spokeswoman Amy Chen said.