T'way Air Secures $17 Million in Shareholder Funding for European Expansion
South Korean low-cost carrier T'way Air has successfully secured KRW23.4 billion, approximately USD 17 million, in new capital. The funding was raised through a third-party paid-in capital increase, with significant participation from its largest shareholder, Tway Holdings. These funds are designated as working capital to support the airline's major operational growth. This expansion is directly linked to its preparations to launch four European routes, a strategic move resulting from the Korean Air and Asiana Airlines merger. The airline is inducting A330 widebody aircraft to service these new long-haul destinations.
Official Source: https://www.ch-aviation.com/news/164879-south-koreas-tway-air-secures-17mn-shareholder-backing
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