Air Premia, 100% Subscription for First Paid-in Capital Increase

[Asia Economy Reporter Choi Dae-yeol] The airline Air Premia announced on the 4th that it successfully completed a 100% subscription in the first round of its paid-in capital increase on the 29th of last month. Earlier, in March, the board of directors decided to proceed with a paid-in capital increase worth 58 billion KRW, planning to receive subscriptions in one to two rounds.

The first allocation of 29 billion KRW involved JC Partners, the consortium led by Chairman Park Bong-cheol, existing institutional investors, the LA Korean community association, and company executives and employees. The remaining second round of the capital increase is scheduled for mid-June. The funds raised through the capital increase will be used for additional aircraft acquisition, parts procurement, and the establishment of long-haul route branches.

The company stated, "Unlike other low-cost carriers, we introduced medium to large-sized aircraft from the beginning instead of small models, focusing on medium- to long-haul routes such as the Americas and Europe, which seems to have been positively evaluated as a differentiating factor."

Recently, after securing the Korea-Germany traffic rights, the company is preparing for the Jangari route. Since conditional approval was granted due to concerns over competition restrictions caused by the Korea Air and Asiana merger monopoly, additional route expansion is anticipated. Since December last year, the company has been operating cargo routes to Ho Chi Minh and Bangkok, starting with the Incheon-Singapore route, and is preparing to launch international passenger routes to Singapore and Los Angeles around June to July.

This content was produced with the assistance of AI translation services.