T'way Air Headquarters Relocation to Daegu Agreement Signed ... Fulfilling Role as Regional Hub Airline

May 5 Daegu International Airport: Daegu City and T'way Air Agreement Ceremony

Contributing to the Growth of 'Daegu Gyeongbuk New Airport' as a Gateway Airport in the Central-Southern Region

T'way Air aircraft.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] The plan to relocate T'way Air's headquarters to Daegu is being put into full swing.

The Daegu Metropolitan City and T'way Air Co., Ltd. will sign a memorandum of understanding at 11 a.m. on the 5th at Daegu International Airport to cooperate in relocating the airline's headquarters to Daegu, fostering a regional hub airline, successfully constructing the Daegu-Gyeongbuk Integrated New Airport, and revitalizing the regional economy and industry.

Once the construction of the Daegu-Gyeongbuk Integrated New Airport, scheduled for relocation by 2030, is completed, a hub airline will be essential as a core element for growth into one of the four major gateway airports and the gateway airport of the central-southern region.

Through the signing of the memorandum of understanding, Daegu City and T'way Air plan to join forces so that T'way Air can play a pivotal role in the growth of the Daegu-Gyeongbuk Integrated New Airport as the gateway airport of the central-southern region.

The main contents of the agreement are: ▲ First, actively striving for the relocation of T'way Air's headquarters to Daegu, hiring local talent, and conducting social contribution activities ▲ Second, actively promoting route openings reflecting local air passenger and air cargo demand ▲ Third, performing the role of a regional hub airline to help the Daegu-Gyeongbuk Integrated New Airport grow into the central-southern region's gateway airport, including opening medium- and long-distance routes reflecting the demands of city and provincial residents, expanding MRO (Maintenance, Repair, and Overhaul) business, and cooperating to build an economic logistics airport ▲ Fourth, Daegu City will actively support the growth of T'way Air as a regional hub airline through administrative support such as route openings and securing transportation rights following the relocation of T'way Air's headquarters to Daegu.

Starting with the Daegu-Jeju route in 2014, T'way Air began operations at Daegu Airport and by 2019 operated 16 out of 23 international routes at Daegu Airport, holding a 69.5% share of international routes and transporting 52% of international passengers, growing based on Daegu Airport.

Additionally, T'way Air entered the cargo transportation business at Daegu Airport in 2019 after major airlines withdrew, providing air travel benefits reflecting local demand as a hub airline at Daegu Airport.

Thanks to T'way Air's active pioneering of Daegu routes, the number of users at Daegu International Airport has increased annually, reaching 4.67 million passengers in 2019, enabling it to grow into one of the four major international airports in Korea.

International flights at Daegu Airport, which had been suspended due to COVID-19, resumed after 2 years and 4 months with T'way Air's proactive efforts to restart international routes, beginning with Da Nang, Vietnam on May 28 and Bangkok, Thailand on June 23, reigniting the local economy and tourism.

Hong Joon-pyo, Mayor of Daegu, said, “I welcome T'way Air's decision to relocate its headquarters to Daegu, and Daegu City will provide full administrative support so that it can leap forward as a key Korean airline transporting passengers and cargo worldwide, based at the Daegu-Gyeongbuk Integrated New Airport.”

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