Air Premia Chairman Kim Jungkyu: "We Will Contribute to the National Economy as a Premium Airline"

"Enhancing Competitiveness Through Additional Aircraft Acquisitions and M&A in the Future"

On May 22, Air Premia Chairman Kim Jungkyu expressed his management philosophy, stating, "I will develop Air Premia into a premium airline that becomes a source of pride for South Korea."

Air Premia aircraft. Provided by Air Premia

Previously, on May 2, AP Holdings, a subsidiary of Tirebank Group, became the largest shareholder by acquiring more than 70% of Air Premia's shares.

Regarding the background of this acquisition, Chairman Kim emphasized, "Since Air Premia was founded in 2018, I have continuously invested both directly and indirectly. Even when the aviation industry was facing a major crisis due to COVID-19, I supported the company's survival through ongoing financial support," adding that this is "a full-fledged step toward responsible management."

He stated that he views Air Premia not merely as an airline, but as a strategic industry capable of elevating the nation's prestige. Chairman Kim said, "An airline is one of the key indicators by which a country's stature is measured. Air Premia, as an airline worthy of serving Korea's discerning citizens, will contribute to enhancing South Korea's prestige on the global stage."

He added, "By earning foreign currency, we can also contribute to the creation of national wealth," expressing both his expectations for the economic ripple effects of the airline industry and his ambition to contribute to the national economy.

Regarding funding plans, he stated, "Tirebank Group owns multiple affiliates, and it is possible for each affiliate to participate separately, or for Tirebank to acquire the company independently. There is absolutely no issue with securing funds."

He also mentioned future growth strategies such as acquiring additional aircraft and pursuing mergers and acquisitions (M&A). Chairman Kim commented, "The nature of the airline industry lies in achieving economies of scale," and added, "We plan to develop the company into a competitive player."