The airline’s president Chang Kang-wei said that Far Eastern Air Transport (FAT) plans to file an application with the Taipei District Court in December to end its financial restructuring plan.
 
FAT suspended operations and sought bankruptcy protection in 2008. It obtained approval in 2009 from the Taipei District Court to proceed with a financial restructuring plan.
 
The carrier resumed operations in April this year and is expected to become profitable by early next year, Chang said at an interview with CNA.
 
If the court agrees to FAT ending its restructuring plan, local banks will be more willing to provide loans to the airline, Chang said.
 
The company plans to buy Boeing and Airbus planes to upgrade its existing fleet, most of which are McDonnell aircraft.
 
On Oct. 31, the carrier began offering flights from Taiwan Taoyuan International Airport to Shijiazhuang in Hebei Province in China. It is also operating flights from Songshan Airport in Taipei to Taiyuan in Shanxi Province and Nanning in Guangxi Zhuang Autonomous Region.
 
In addition to its cross-strait service, FAT provides regular flights to Angkor in Cambodia and charters to Cebu in the Philippines and Da Nang in Vietnam.
 
The carrier also provides domestic flights to Taiwan’s outlying islands of Kinmen and Penghu.
 
In December, FAT will open routes from Kaohsiung to Nanning in Guangxi and to Chengdu in Sichuan Province. It will also launch a service from Taiwan Taoyuan International Airport to Gueiyang in Gueizhou Province.
 
In January, the airline plans to add more cross-strait flights from Kaohsiung to Haikou in Hainan Province and Hefei in Anhui Province.
 
FAT had around 10 employees when the court approved its financial restructuring. Its workforce has now expanded to more than 600.
 
SOURCE: taiwannews.com

 

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