Daemyung Sonogroup announced on the 2nd that JC Aviation No. 1 Limited Liability Company (JC SPC), jointly owned with JC Partners, has signed a contract to sell all of its equity in Air Premia to Tire Bank.
This transaction will be carried out by transferring all the equity in Air Premia held by JC SPC at a price of 1,900 won per share.
Previously, Sonointernational (the holding company of Daemyung Sonogroup) and JC Partners had each held call option and put option rights, but both parties agreed to proceed with the sale instead of exercising those rights. The transaction is expected to be finalized by the end of September 2025.
Sonointernational plans to restructure its institutional sector business in the aviation sector as part of this transaction.
Earlier, Sonointernational signed a contract to acquire T’way Air and has shown interest in acquiring Air Premia, which operates routes to North America.
There are observations that Sonointernational may push for a merger with T’way Air following its acquisition of Air Premia.
However, Sonointernational decided to dispose of its equity in Air Premia to focus on stabilizing T’way Air's aviation operations and its long-term growth strategy.
This is because T’way Air has the potential to expand its routes to North America, starting with the launch of the Vancouver route in July.
T’way Air has a global network that covers major European cities such as Paris and Rome, as well as domestic and Asian routes.
Sonointernational also plans to pursue various synergy creation strategies linked to its domestic and international hotel and resort infrastructure.
The company noted that "the sale of equity in Air Premia is a strategic decision aimed at establishing an efficient and stable aviation operating system centered on T’way Air" and stated, "We aim to achieve sustainable and solid growth in the fast-changing aviation market."