South Korea’s t’way Air plans to expand its fleet from two B737-8s to 20 by the end of 2027 and will lease five A330-900Ns next year.
The acquisition by Daemyung Sono Group, costing KRW250bn (€160m), includes a nearly complete payment, with the final instalment due by March 31.
Additional investments will focus on enhancing safety, increasing engineering staff, and constructing a hangar at Seoul Incheon for in-house maintenance.
After the ownership transition at the end of March, Daemyung Sono will appoint nine directors and install Lee Sang-yun as the new CEO, succeeding Jeong Hong-geun.
The airline currently operates 38 aircraft across 44 airports in 21 countries and plans to pursue a merger with Air Premia following the takeover.
