TAIPEI — China Airlines says it will temporarily take over TransAsia Airways’ routes starting Dec. 1 after the Taiwanese airline abruptly ceased operations earlier this week.

On Nov. 22 TransAsia Airways’ board members agreed to dissolve the company and halt all flights. The carrier couldn’t bring its business back to previous levels after two plane crashes in three years. The airline ran up losses of more than NT$2.2 billion (about Cdn$93 million) in the first three quarters of 2016 “and did not see optimistic prospects”.

“It was a painful decision to dissolve the company,” said Board Chairman Vincent Lin. “We kept trying to find domestic and international professional bodies, partners, or even a new operational team to help TransAsia. It’s a pity that the hope was not fulfilled.”

“We choose to dissolve the airline at this point of time because the company still has more asset than liability, so we’re capable of providing necessary protection to the interests of passengers, employees and partners,” said Lin. “Before exiting Taiwan’s civil aviation industry, the 65-year-old airline will do everything we could to shoulder our last responsibilities.” TransAsia has formed an emergency task force to deal with issues related to passenger refunds, employee layoffs, debt clearance and shareholder interests.

China Airlines is expected to take over virtually all over TransAsia’s domestic and international routes at the beginning of next month.