Overview

• Daemyung Sono Group and JC Partners have agreed to sell their combined 22% stake in Air Premia to Tirebank for 119.4 billion won by the end of September.
• The decision reflects a strategic shift to focus on T’way Air, aligning its operations with Daemyung Sono’s hotel and resort businesses.
• T’way Air is set to launch a new route to Vancouver, Canada, in July, expanding its long-haul service capabilities.
• Corporate restructuring plans include renaming T’way Air and appointing a new board, with shareholder approval expected at a May 23 meeting.
• The acquisition of a 26.77% stake in T’way Air by Daemyung Sono, announced in February, is still pending antitrust clearance from the Korean Fair Trade Commission.