South Korean low-cost carrier T’way Air has signed lease agreements for two brand-new Boeing 737 MAX 8 aircraft with lessor CDB Aviation.
Delivering from the lessor’s orderbook with Boeing, the South Korean carrier is expected to take delivery of the two aircraft between January and November 2024.
“We’re pleased to be strengthening our relationship with T’way, one of the fastest growing low-cost carriers in South Korea, with this transaction for two MAX aircraft.”
“Our commercial team continues to be focused on expanding our reach in the region, working collaboratively with carriers to support their immediate and longer-term fleet needs,” commented CDB Aviation Chief Marketing Officer Peter Goodman.
MAX 8 operations since January 2023
T’way commenced operational service with the 737 MAX 8 in January 2023 upon inducting its first aircraft of the type in December 2022, which was configured with 189 single-class economy seats.
The carrier currently operates the MAX on multiple international routes, connecting Incheon with Philippines, Singapore, and Thailand.
According to T’way, the extended range of the MAX will enable it to fly to farther-off locations such as Indonesia, and Central Asia.
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“It is a great pleasure to strengthen our relationship with CDB Aviation. We anticipate expanding our fleet by replacing our NGs with MAXs, thereby ensuring a delightful passenger experience with these highly efficient aircraft.”
“We hope that CDB Aviation will support us in accomplishing this strategic plan,” commented T’way Chief Executive Officer Hong Geun Jeong.
“The teams on both sides have worked hand-in-hand to build a strong relationship between our companies, executing on the potential deal opportunities that effectively leverage the strength of our leasing franchise and access to new-gen aircraft to support T’way’s network expansion,” added Jie Chen, CDB Aviation Chief Executive Officer.
“We’re continuing to grow our global footprint, building trusted relationships with airlines across all key markets. This campaign was one of the rare MAX skyline placement campaigns in the region, and we’re thrilled to be expanding business with T’way.”
About T’way Air
T’way Air Co., Ltd. formerly Hansung Airlines, is a South Korean low-cost airline based in Seongsu-dong, Seongdong-gu, Seoul. It is the third largest Korean low-cost carrier in the international market, carried 2.9 million domestic passengers and 4.2 million international passengers in 2018.
Its international traffic has quadrupled over the past three years while domestic traffic has grown by only 12%.
As Hansung Airlines, the carrier began flying between 2005 and 2008, after which the company reorganized and rebranded in 2010.
The ‘t’ in t’way stands for together, today and tomorrow. The airline was established on 8 August 2010 with two Boeing 737-800s.
The following month, the airline obtained an air operator’s certificate (AOC) permitting domestic flights and commenced operations with services between Gimpo International Airport and Jeju International Airport.
The following year an AOC for international operations was awarded and in October it launched the first international service, to Bangkok.
According to Planespotter’s data, T’way Air currently operates a fleet of 30 aircraft, consisting of 25 Boeing 737-800s; 2 737-8 MAX and 3 Airbus A330-300 aircraft.
The airline operates a network of 46 destinations, including 24 domestic and 22 international destinations. Its main focus cities are Daegu International Airport, Gimpo International Airport, and Jeju International Airport.
