Jung Hong-geun, CEO of T'way Air, "2023 is a Year of Rebound"

[Asia Economy Reporter Hyunseok Yoo] Jung Hong-geun, CEO of T'way Air, urged at the New Year's ceremony held on the 2nd at T'way Air's Aviation Training Center located in Gangseo-gu, Seoul, to make 2023 a year of renewed leap forward based on safe operations.

CEO Jung said, "Challenges to new things carry risks, but success in them is rewarded with future market dominance and astronomical value gains," adding, "Let's prepare courageously without fearing risks to cause a paradigm shift in the low-cost carrier (LCC) industry."

He added, "Looking at the recent market, the long-awaited demand for travel is emerging, and exchange rates and oil prices have entered a stable trend, so the business outlook for next year is not bad," and "Despite many changes expected in the domestic and international aviation industry, it could be a good opportunity for T'way Air."

T'way Air made thorough preparations for a renewed leap forward ahead of the transition from the pandemic to reopening. It established an emergency management system to respond to crises. To secure competitiveness in the reorganized aviation industry, it adopted a scale expansion strategy by expanding medium- and long-haul routes and introducing large aircraft.

It secured new traffic rights to Australia, Croatia, Kyrgyzstan, Mongolia, and others. Since February last year, it has introduced three large aircraft A330-300s. At the end of last year, it launched a new route between Incheon and Sydney, expanding its business area to long-haul routes.

In 2023, it aims for a takeoff through additional introduction of medium- and large-sized and next-generation aircraft, expansion of medium- and long-haul routes, and expansion of cargo transportation business. It also plans to actively increase flights on routes due to rising demand. This month alone, it will operate routes Jeju~Taipei, Cheongju~Da Nang, Daegu~Taipei, and Incheon~Kumamoto.

Jung Hong-geun, CEO of T'way Air, emphasized, "We have already sown the seeds for a renewed leap forward, and the fruits are approaching as beautiful flowers and fruits," adding, "If we communicate and consider each other with safety as the top priority and become one, there is nothing we cannot achieve."