Airline shuts down after 2 crashes in 2 years

TransAsia Airways Taiwan aviation

A passenger at the TransAsia counter in Songshan Airport in Taiwan on Tuesday. The airline said it will shut down because of financial problems.

Troubled Taiwanese airline TransAsia says financial woes have forced it to shut down following two deadly crashes in the space of two years.

TransAsia Chairman Vincent Lim announced on Tuesday the company will be dissolved. The airline had already canceled all its flights for Tuesday, leaving more than 5,000 customers in the lurch.

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