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Photo = T’way Air |
[Alpha Biz= Kim Jisun] T’way Air said its largest shareholder Sono International will fully subscribe to its allocated shares in the airline’s rights offering for existing shareholders.
The company said on March 11 that Sono International plans to subscribe to all 26.85 million common shares allocated to it, representing 100% participation in the capital increase.
A T’way Air official said the decision reflects the major shareholder’s strong confidence in the airline’s long-term vision and growth potential, adding that the move demonstrates a commitment to enhancing shareholder value and responsible management despite uncertain economic conditions.
The airline plans to use funds raised from the offering to strengthen future growth drivers, including the introduction of additional A330-900NEO aircraft in the second half of the year and expansion of long-haul routes to Europe, North America and Australia.
T’way Air also said the capital increase will help improve its financial structure, lowering the debt ratio and strengthening liquidity, while boosting investor confidence in the company.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
