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Photo = T'way Airlines |
[Alpha Biz= Kim Jisun] Daemyung Sono Group has acquired T'way Air from Yerimdang, potentially reshaping the low-cost carrier (LCC) market as the group also holds shares in Air Premia.
On Wednesday, Yerimdang, the largest shareholder of T'way Air, announced that it would sell its entire stake in T'way Holdings (44.47 million shares, 28.02% stake) to Sono International, the holding company of Daemyung Sono Group, for 212.4 billion KRW.
T'way Air's corporate structure follows a hierarchy of "Yerimdang → T'way Holdings → T'way Air." Last year, Daemyung Sono Group invested 176 billion KRW to acquire a 26.77% stake in T'way Air. With this latest transaction, Sono International will now hold a 54.79% stake in the airline.
Daemyung Sono Group plans to maximize synergy with T'way Air by leveraging its 20 domestic hotels and resorts—including the soon-to-open Sol Beach Namhae—as well as its overseas infrastructure in the U.S., France, and Hawaii. The company aims to develop joint travel packages, promotions, and marketing strategies. Additionally, there are plans to rebrand T'way Air and seek membership in a major airline alliance.
Seo Joon-hyuk, Chairman of Daemyung Sono Group, stated, "We will ensure stable management and strive to become a global airline that satisfies customers and employees alike."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
