Cash-strapped Far Eastern Air Transport Corp (FAT, 遠東航空) yesterday disclosed plans to sell its non-operational investments, including shares in the Xiamen Air Cargo Hub and the Kaohsiung air cargo warehouse, to meet short-term liquidity needs.
"We will sell the 12 percent shares we hold in Xiamen Air Cargo Hub (廈門航空貨運站) to the other four major shareholders for a total of NT$160 million [US$5.17 million]," FAT spokesman Hanson Chang (張有朋) said.
EVA Airways Corp (長榮航空), China Airlines Ltd (CAL; 中華航空), Taiwan Air Service Co (台灣航勤), and China's Xiamen Airport are the four major shareholders of the air cargo hub.
Chang said profits from other non-operational investments such as NT$50 million from Kaohsiung Air Food Service (高雄空儲) and NT$20 million in accounts receivable from online travel agent EZfly.com (易飛網) would help the cash crunch next week.
Chang said that a total of NT$35 million had already been received yesterday to meet the costs of operation over the weekend, as well as last month's payroll.
FAT said because of severe losses after the high-speed railway started operation and continuous surges in fuel costs, the company had gained approval from the Civil Aeronautic Administration to suspend service from Taipei to Tainan and from Kaohsiung to Hualien beginning today.
INFRINGEMENT: The investigation comes after a complaint from Vicor Corp, with the company seeking a limited exclusion order as well as cease-and-desist orders, the ITA said The US International Trade Commission (USITC) has launched a Section 337 investigation naming Taiwanese technology companies, including Hon Hai Precision Industry Co (鴻海), Delta Electronics Inc (台達電) and Quanta Computer Inc (廣達), as respondents. The Ministry of Economic Affairs (MOEA) pledged assistance if needed. The USITC said on Friday in a statement that it had voted to institute an investigation under Section 337 of the US Tariff Act of 1930 into certain vertical power delivery systems, related components and computing devices incorporating such systems. The investigation covers 20 companies from Taiwan, China, Germany and the US, the commission said, adding that it
PACKAGING PUSH: The chipmaker said that it would begin ramping up silicon interposer production in New York in the first half of 2028 to support AI systems GlobalFoundries Inc shares gained as much as 7 percent after the chip manufacturer announced a five-year, US$2 billion deal to provide US production capacity to Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). Under the agreement, announced on Thursday, GlobalFoundries is to help supply components known as silicon interposers. The US company is to rely on manufacturing at its facility in Malta, New York, and said it has the option to expand capacity “as customer demand grows.” An interposer is a small layer of silicon that sits between a chip and its packaging. It is home to the wires that carry electronic signals and
A man charged along with Super Micro Computer Inc co-founder Yih-Shyan “Wally” Liaw (廖益賢) of conspiring to send cutting-edge chips to China in violation of US export controls pleaded guilty, court documents said. Ting-Wei “Willy” Sun (孫廷瑋), a former outside contractor described by US authorities as a “fixer” who allegedly aided in the sales, pleaded guilty on Thursday at a hearing in federal court in New York as part of an agreement with prosecutors, court filings showed. Prosecutors claimed the men were part of a scheme to send Nvidia Corp-powered servers to an unnamed Southeast Asian company and then divert them to
SECOND-TOP MONTH: September revenue was 0.6 percent lower month-on-month, but despite the drop, it was the firm’s highest-ever sales report for the month Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported record quarterly revenue for last quarter, after sales last month hit the second-highest monthly level in the company’s history. Revenue in the quarter ended last month was NT$1.49 trillion (US$46.75 billion), up 17 percent from NT$1.27 trillion in the second quarter and exceeding the combined prediction of 19 LSEG SmartEstimate analysts of NT$1.46 trillion. Last quarter’s figure — which was up 12 percent from the midpoint of last year — also surpassed the company’s July estimates of US$44.6 billion to US$45.8 billion amid surging demand for the ramp-up of its advanced 2-nanometer technology, artificial
RSS