TransAsia Airways (Taipei Songshan) has announced that its nascent Low Cost subsidiary with be called "V air" while its Chinese name will be “Wei Hang” ('mighty airline' in English). In a statement, TransAsia said it picked V air (Taipei Taoyuan) out of nearly 8'000 entries in a public naming contest. “V can stand for voyage, vision, vivid, or victory which symbolise the positive energy a new company requires and can help boost the public’s preference and acceptance of the new company,” it said. Backed by TWD3billion (USD100million), V air is expected to launch before year end using two or three leased A320/A321s and will go head to head with the new China Airlines (CI, Taipei Taoyuan)-Tigerair (Singapore Changi) joint venture, Tigerair Taiwan (IT, Taipei Taoyuan), which is also planning to launch this year.