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Tire Bank Acquires Control Of Air Premia

ByAdmin

Air Premia, the South Korean hybrid airline, is undergoing a significant ownership change following the announcement that Tire Bank, a South Korean tire distribution and retail group, will assume control of the carrier. Tire Bank, acting through its affiliate AP Holdings, will raise its shareholding in Air Premia to 68% after acquiring an additional 22% stake from existing investors JC Partners and Sono Hospitality.

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Korea Express Air Faces Sale Amid Financial Restructuring

ByAdmin

Korea Express Air, a South Korean regional airline, is anticipated to be put up for sale as it navigates ongoing management and financial difficulties. The carrier has been under corporate rehabilitation procedures since October 2024, and its stakeholders are now considering strategic options, including a full sale, to stabilize the business.

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Asiana Cargo Sale To Air Incheon Nears Completion

ByAdmin

Asiana Cargo, the cargo division of South Korea’s Asiana Airlines, is in the final stages of its acquisition by Air Incheon, marking a pivotal moment in the consolidation of the country’s air freight market. Following regulatory approvals by the Ministry of Land, Infrastructure and Transport (MLIT), the unified cargo airline is expected to officially launch in July 2025.

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Batik Air Malaysia To Launch Kota Kinabalu–Seoul Route

ByAdmin

Batik Air Malaysia has announced plans to commence nonstop service between Kota Kinabalu (BKI) and Seoul Incheon (ICN) beginning 12 September 2025. The new route will be operated using Boeing 737-800 aircraft, expanding the carrier’s footprint in Northeast Asia and enhancing connectivity between Malaysia’s Sabah region and South Korea.

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Korean Air Grounds Four A220-300s Due to Engine Issues

ByAdmin

Korean Air has confirmed that four out of its ten Airbus A220-300s have been grounded due to ongoing engine-related issues, which are expected to impact its domestic operations during summer 2025. The affected aircraft include serial numbers 55022, 55049, 55019, and 55031.

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Korean Air Nears $32.7B Boeing And GE Deal

ByAdmin

Korean Air is nearing the finalization of a major $32.7 billion agreement that will significantly expand and modernize its long-haul fleet. The memorandum of understanding (MOU) includes the acquisition of 20 Boeing B777-9 and 20 Boeing B787-10 aircraft, with options for 10 additional aircraft and up to ten spare engines.

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T’way Air Reports 2024 Financial Results

ByAdmin

T’way Air Co., Ltd., a prominent South Korean low-cost carrier, has announced its financial results for the year ending December 31, 2024. The airline reported sales totaling $1.0 billion, a 13.9% increase compared to the previous year. However, the company also recorded a net loss of $41.5 million, underscoring the persistent challenges faced by the aviation industry amid fluctuating…

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Eastar Jet Secures $21 Million Investment from SG Private Equity

ByAdmin

Eastar Jet, a prominent low-cost airline based in South Korea, has successfully secured a $21 million investmentfrom SG Private Equity, a private equity firm headquartered in Seoul. This strategic infusion of capital is aimed at bolstering Eastar Jet’s efforts to expand its fleet and strengthen its operational capabilities.