TransAsia Airways Corp (TNA, 復興航空) announced yesterday that it would offer NT$14.9 million (US$496,200) each in compensation to the families of 48 passengers and crew who died in the crash of TransAsia Flight GE222 to Penghu last month.
The amount surpasses the highest compensation paid by a Taiwanese airline of NT$14.2 million per victim, which was paid by China Airlines Ltd (中華航空) to the families of the 225 people who died in the Flight CI611 crash of 2002.
Before the final conclusion of investigations into the cause of the crash are made public, TNA reached the decision at a meeting yesterday with families of the victims of the disaster.
Photo courtesy of TransAsia Airways Corp
“As an expression of the company’s highest sincerity, the company decided on the compensation payment by taking into consideration related regulations and precedents internationally and domestically,” the carrier said in a statement.
The Aviation Safety Council, which is leading the investigation into the crash, said it would accelerate the pace of the investigation to make it clear what was responsible for the disaster as soon as possible.
The NT$14.9 million per victim includes an out-of-court settlement of NT$13.5 million, as well as a preliminary pension of NT$200,000 and a funeral subsidy of NT$1.2 million the carrier has already paid.
Families of the people killed have not accepted the offer yet. However, if they decide to do so, TNA losses as a result of the crash would amount to NT$715.2 million. The company has also met the medical expenses and offered other compensation to 10 injured passengers and five Penghu residents.
Part of the compensation for the casualties is set to be covered by aviation insurance, with the amount remaining undecided. TNA did not specify if the compensation payment would impact the company’s business and profitability in the future.
TNA officials are to hold talks with each of the families of the victims to finalize the amount of compensation.
The carrier has posted the highest earnings per share (EPS) for the year among the nation’s three listed airlines on the back of lower operating costs and its expansion of international routes over the past year.
TNA, which operates mainly regional and cross-strait routes, earned NT$158.31 million, or NT$0.29 per share, for the first six months of this year, compared with net losses of NT$186.3 million, or NT$0.34 per share, during the same period last year, the company said in a statement.
With this year’s Semicon Taiwan trade show set to kick off on Wednesday, market attention has turned to the mass production of advanced packaging technologies and capacity expansion in Taiwan and the US. With traditional scaling reaching physical limits, heterogeneous integration and packaging technologies have emerged as key solutions. Surging demand for artificial intelligence (AI), high-performance computing (HPC) and high-bandwidth memory (HBM) chips has put technologies such as chip-on-wafer-on-substrate (CoWoS), integrated fan-out (InFO), system on integrated chips (SoIC), 3D IC and fan-out panel-level packaging (FOPLP) at the center of semiconductor innovation, making them a major focus at this year’s trade show, according
SEMICONDUCTOR SERVICES: A company executive said that Taiwanese firms must think about how to participate in global supply chains and lift their competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it expects to launch its first multifunctional service center in Pingtung County in the middle of 2027, in a bid to foster a resilient high-tech facility construction ecosystem. TSMC broached the idea of creating a center two or three years ago when it started building new manufacturing capacity in the US and Japan, the company said. The center, dubbed an “ecosystem park,” would assist local manufacturing facility construction partners to upgrade their capabilities and secure more deals from other global chipmakers such as Intel Corp, Micron Technology Inc and Infineon Technologies AG, TSMC said. It
DEBUT: The trade show is to feature 17 national pavilions, a new high for the event, including from Canada, Costa Rica, Lithuania, Sweden and Vietnam for the first time The Semicon Taiwan trade show, which opens on Wednesday, is expected to see a new high in the number of exhibitors and visitors from around the world, said its organizer, SEMI, which has described the annual event as the “Olympics of the semiconductor industry.” SEMI, which represents companies in the electronics manufacturing and design supply chain, and touts the annual exhibition as the most influential semiconductor trade show in the world, said more than 1,200 enterprises from 56 countries are to showcase their innovations across more than 4,100 booths, and that the event could attract 100,000 visitors. This year’s event features 17
EXPORT GROWTH: The AI boom has shortened chip cycles to just one year, putting pressure on chipmakers to accelerate development and expand packaging capacity Developing a localized supply chain for advanced packaging equipment is critical for keeping pace with customers’ increasingly shrinking time-to-market cycles for new artificial intelligence (AI) chips, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) said yesterday. Spurred on by the AI revolution, customers are accelerating product upgrades to nearly every year, compared with the two to three-year development cadence in the past, TSMC vice president of advanced packaging technology and service Jun He (何軍) said at a 3D IC Global Summit organized by SEMI in Taipei. These shortened cycles put heavy pressure on chipmakers, as the entire process — from chip design to mass
RSS