The Civil Aeronautics Adminis-tration (CAA) confirmed yesterday that Far Eastern Air Transport Corp (FAT, 遠東航空) must raise at least NT$18 million (US$582,000) to continue operating through Monday.
CAA deputy director-general Wang Te-ho (
The company has yet to pay for expenses on Saturday and Sunday, he said.
FAT estimates it would need at least NT$6 million in cash to maintain its daily operations, with fuel charges accounting for the majority at NT$5 million, Wang said.
The company had a debt-to-asset ratio of 87.43 percent and current ratio (a measure of a company's ability to pay off short-term liabilities with liquid assets) of 55.52 percent last month, FAT said in a statement on Feb. 14.
Shares of FAT were restricted to cash-only trading, beginning on Feb. 14, after the company bounced NT$150 million in checks to CPC Corp, Taiwan (
Wang also said yesterday that the Taipei District Court had issued an emergency order to freeze any sale of FAT's assets.
The district court approved the airline's request for court protection from creditors last Friday.
FAT claims it will receive a huge sum by March 5 to cover its employees' paychecks and year-end bonus, but the court order would make it difficult for the airline to get the money, Wang said.
"Those who owe FAT might now refuse to pay at all because of the emergency order," Wang said.
"They might use the court order to their advantage," he added.
The company said on Monday that it planned to ask the court to reverse its ruling.
FAT's flights continued to operate normally yesterday, although the company did cancel some daily flights -- between Taipei and Kaohsiung -- that had low passenger loading, Wang said.
Bankers in Hong Kong skipped the summer break as an artificial intelligence (AI)-fueled rush for capital sent share sales to a record, defying a bruising selloff in the city’s stocks. Initial public offerings (IPOs), placements and block trades raised US$47.5 billion in July to last month, the biggest haul ever for the period, data compiled by Bloomberg showed. That pushed fundraising this year above US$92 billion and within reach of the US$112.5 billion record set in 2021. AI has been at the heart of Hong Kong’s deal revival, but this summer brought a new level of intensity. Chinese companies raised ever-larger sums
SILICON ISLAND: When asked about geopolitical tensions, Lisa Su said that ‘Taiwan is absolutely critical to the semiconductor supply chain, and very, very critical for AMD’ Advanced Micro Devices Inc (AMD) CEO Lisa Su (蘇姿丰) yesterday said the company plans to “substantially” increase manufacturing capacity next year through its Taiwanese supply chain, particularly with Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), as surging demand for artificial intelligence (AI)-related processors continues to outstrip supply. “It is a very exciting time right now for all kinds of compute, and especially on the CPU [central processing unit] side,” Su said during a visit to Taiwan. “The overall market has increased a lot in 2026, and so we have also increased our own supply and capacity in 2026, but I can
INDUSTRY STANDARD: Most global semiconductor companies have tied employee bonuses directly to corporate profits, the union said, urging Micron to do the same Micron Memory Taiwan Co’s (台灣美光) Taoyuan union secured strike authorization yesterday after a six-day vote, ramping up pressure on management to build a reasonable profit-sharing mechanism. Before the strike, the Taoyuan union “encourages” members to join a protest in Taipei on Oct. 19, union chairman Jerry Lin (林哲瑞) told a news conference in Taipei. The union did not rule out staging a snap strike, Lin said. The union has 2,258 registered members, with 88.3 percent backing the strike, he said. The vote comes as Micron’s board of directors is meeting today and tomorrow in the US. The union expects the board to respond
Sea levels in California are set to rise by as much as a foot (30cm) in the coming days as an enormous wave washes up the US West Coast. The huge surge of energy, known as a “coastal trapped wave” or a “Kelvin wave,” is part of El Nino, a months-long phenomenon in the Pacific Ocean that scientists say could generate powerful storms and floods in some parts of the world, while leaving others in drought. The Kelvin wave is not anything like a tsunami; nor does it crash on beaches. Rather it is a sustained bulge of excess water up to
RSS