Daemyung Sono injects additional $80 million into T'way Air as turnaround effort intensifies
What's the deal? South Korea's Daemyung Sono GroupDealroom has a profile for this one. Try Dealroom → has committed an extra KRW 110 billion (about $80 million) to T'way Air, the low-cost carrier it recently took management control of.
The post-IPO equity comes via perpetual securities, lifting liquidity and cutting leverage. It follows more than KRW 400 billion Daemyung Sono already spent on stakes in T'way Air and its holding company.
Why now? T'way Air shares have traded below KRW 1,000, putting it at risk under South Korea's new delisting rules for low-priced stocks.
To counter that, the airline plans a 5-for-1 reverse stock split to lift its share price. Keeping its public listing is seen as vital for future fundraising and growth.
What could go wrong? The carrier still faces currency swings, high fuel costs, and the strain of building out long-haul routes.
The fresh capital buys time and flexibility, but a sustained recovery is far from guaranteed.
The signal: The cumulative outlay — more than KRW 400 billion already spent plus this fresh KRW 110 billion — marks Daemyung Sono, a corporate investor better known for hospitality and travel, making a sizeable bet on building an in-house aviation arm. Folding T'way Air into that wider group reflects a strategic platform play rather than the financial stake the numbers alone might suggest.
Read more: aviator.aero
Image credit: "HL8000 | T'Way Air | Boeing 737-86N(WL) | ICN" by byeangel is licensed under CC BY-SA 2.0. To view a copy of this license, visit https://creativecommons.org/licenses/by-sa/2.0/.
