South Korea’s t’way Air to Expand Boeing 737-8 Fleet to 20 by 2027
t’way Air, a low-cost carrier based in South Korea, has announced plans to expand its Boeing 737-8 fleet from two to 20 aircraft by the end of 2027. This expansion is part of a broader strategy following its acquisition by Daemyung Sono Group. The group is investing KRW250 billion (USD172 million) to take a controlling stake in t’way Air, with the final payment of KRW25 billion (USD17.2 million) due on March 31.
Along with the Boeing 737-8 fleet expansion, t’way Air will also induct five Airbus A330-900Ns on lease from Avolon in 2024. The airline operates a diverse fleet, including five A330-200s, four A330-300s, and multiple Boeing 737 variants, totaling 38 aircraft. Daemyung Sono Group plans to invest further in t’way Air’s operations, focusing on safety, engineering staff, and the construction of a hangar at Seoul Incheon Airport to enhance in-house maintenance capabilities.
The takeover is expected to be finalized by the end of March, with Daemyung Sono Group appointing nine directors, including Lee Sang-yun as the new CEO. t’way Air is also exploring a merger with Air Premia, in which Daemyung Sono Group holds a stake. Currently, the airline serves 44 airports across 21 countries. This expansion aligns with t’way Air’s growth strategy as it strengthens its presence in the competitive South Korean aviation market.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com