[Alpha Biz= Reporter Kim Sangjin] On the 3rd, Winix, a household appliance company, was confirmed as the final acquirer of Fly Gangwon, a low-cost carrier (LCC) undergoing a recovery process.
Winix announced that it plans to hold a meeting with creditors, shareholders, and other stakeholders later this month to approve the merger and acquisition (M&A) recovery plan and complete the acquisition of Fly Gangwon through the approval process of the recovery plan by the recovery court.
Winix intends to enhance its competitiveness by implementing specific measures such as renaming the airline, gradually introducing new aircraft, and expanding flight routes until Jeju Airport. Moreover, it plans to expand hub airports such as Gimpo and Incheon. Winix aims to be reborn as a hybrid airline operating both large and small aircraft, securing differentiated service competitiveness in the LCC market.
Winix stated that it has completed all reviews regarding initial acquisition funds, post-acquisition preparations for Jeju Airport, and securing investment funds for business normalization. Accordingly, after the acquisition, it plans to swiftly normalize Fly Gangwon based on financial soundness and provide safe and high-quality customer service.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
