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(Photo = Air premia) |
[Alpha Biz= Reporter Kim Jisun] Daemyung Sono Group, led by the second-generation chairman Seo Jun-hyuk, has rapidly expanded its presence in the aviation industry by becoming the second-largest shareholder of Air Premia, a mid- to long-haul airline.
Just three months after acquiring a stake in T'way Air, Sono International, a subsidiary of Daemyung Sono, announced on the 15th that it had signed a contract to purchase 50% of JC Partners' shares in JC Aviation No. 1 LLC for 47.1 billion KRW ($35.3 million). This deal grants Sono International joint management rights with Air Premia.
The agreement includes a call option, allowing Sono International to acquire the remaining 50% of JC Aviation No. 1 LLC after June 2025, effectively positioning the company as the second-largest shareholder of Air Premia.
Air Premia's current major shareholder, AP Holdings, holds 30.42% of the airline, while JC Aviation No. 1 LLC owns 26.95%. The airline is co-managed, with AP Holdings handling strategy, sales, and business development, and JC Partners overseeing operations, maintenance, and support. Once the transaction is completed, Sono International will take over management responsibilities in the operations sector.
Daemyung Sono Group has also recently invested approximately 176 billion KRW ($132 million) in T'way Air, acquiring a 26.77% stake, making it the second-largest shareholder after Yerimdang (29.97%). Despite the narrow 3.2% gap, Sono International stated that the investment in T'way Air is purely strategic and not aimed at acquiring management control.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
