“T’way Air” achieves 1 trillion sales…2nd LCC = South Korea

South Korean low-cost airline T'Way Airlines announced its third quarter results this year and announced that it had ushered in an era of 1 trillion won (approximately 114.5 billion yen) in sales.
It was revealed on the 4th. With this, T'way Air aims to solidify its position as the second-largest Korean low-cost carrier (LCC).
According to T'way Air, consolidated standard sales for the third quarter of this year
recorded 345.1 billion won (approximately 39.5 billion yen) and operating profit of 34.6 billion won (approximately 4 billion yen). Cumulative sales for the first to third quarters of this year were 989.8 billion won (approximately 113.3 billion yen)
) and operating profit of 137.1 billion won (approximately 15.7 billion yen), the highest level ever. A T'way Air official said, ``If we add up last month's sales, our sales have already reached 1 trillion won (approximately 114.5 billion yen).
``It appears that we have achieved a breakthrough,'' and emphasized that ``we are in the second-highest position among LCCs.'' Total sales in 2019 before the COVID-19 virus outbreak was 810 billion won (approximately 92.7 billion yen)
This was a significant growth compared to the previous year, when the company remained in 3rd place in the industry. Against the background of this growth, T'way Air has expanded from Incheon to Sydney, Singapore, Bishkek, and Wuhan.
He cited the diversification of routes through medium- and long-distance operations such as Lambert. The introduction of the large A330 aircraft last year had a major impact. This will allow supply to medium- and long-distance routes where customer demand is high.
They were able to increase seats and increase sales. This is a strategy that differentiates it from LCCs that concentrate on medium- and short-haul routes. Also, T'way Air has been using Cheongju Airport since the beginning of this year.
In addition, it launched new flights to Southeast Asia, Japan, and China, including Da Nang, Bangkok, Osaka, Nha Trang, and Yanji, and expanded routes departing from regional airports.
The decision was made to absorb passenger demand outside the metropolitan area.
Thanks to the diversification of routes and the effects of new flights, T'way Air has increased the number of Korean LCC passengers.
He also took second place. According to the aviation information portal, from January to October this year, the number of passengers transported by T'way air was 8.26 million, an increase of 25% compared to the same period in 2019 (6.6 million).
T'way Air plans to introduce additional aircraft next year and expand profitability through efficient route management. The aircraft currently operated by T'way Air is the A330-3, which is a medium to large aircraft.
There are a total of 30 aircraft including the 00 generation. A total of seven aircraft, including large aircraft, will be added to this list. T'way Air officials said, ``With thorough preparation for the future and bold execution, we will surpass Endemic.
``Since then, it has continued to grow at the fastest rate in the industry,'' and ``I hope that it will continue to grow sustainably next year with efficient aircraft operation and route strategy.''