[Click eStock] "'Daemyung Sono Group,' 2nd Largest Shareholder of Air Premia, Shows Strong Commitment to Aviation Industry"

On the 16th, Meritz Securities evaluated that Daemyung Sono Group (Sono Group), which became the second largest shareholder of Air Premia, has a strong intention to enter the aviation industry.

Previously, it was reported that Sono Group was set to become the second largest shareholder of Air Premia. They signed a contract to acquire 50% of the shares of Air Premia's second largest shareholder (JC Partners), and the contract includes a call option to purchase the remaining 50% after June 2025.

Researcher Oh Jeong-ha said, "The acquisition of T'way Air will proceed slowly," adding, "The difference in shareholding between Yelimdang, the largest shareholder of T'way Air, and Sono Group is only 3.2%, and the process of Sono Group acquiring T'way Air is expected to continue until 2025 to secure management rights."

He also noted, "Through the acquisition of Air Premia, they can immediately enjoy synergies with their leisure business, so the likelihood of exhausting funds through large expenditures such as public tender offers is limited," and "Sono is expected to increase its shareholding and enter the T'way Air board of directors in 2025 to actively intervene in management."

Researcher Oh further stated, "It is highly likely that Sono Group will exercise the call option for the remaining shares of AP Holdings in June 2025 and also aim for the position of the largest shareholder," explaining, "In August, there were reports of a joint sale intention by the first and second largest shareholders of Air Premia, because a lot of funds are needed to enhance Air Premia's competitiveness ahead of the FSC merger."

He added, "It is known that Sono Group's Chairman Seo Jun-hyuk has had intentions to enter the aviation industry for the past 14 years," and "Since 2022, Sono has been acquiring global hotels one after another, and it is judged that they plan to create synergies by linking overseas business sites."

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