AP Holdings "No Plans to Sell Air Premia"

AP Holdings stated that it has no plans to sell its stake in Air Premia.

On the 23rd, AP Holdings said in a statement, "We clearly have no plans to sell the management rights of Air Premia," adding, "No sale negotiations or discussions have taken place so far."

This was in response to recent speculation that Daemyung Sono Group might acquire the management rights of Air Premia. The shareholding structure of Air Premia consists of 46% friendly shares held by AP Holdings, 22% friendly shares held by JC Partners, and 32% by other shareholders. Sono International effectively became the second-largest shareholder of Air Premia, sparking rumors of a management rights sale.

On the 15th, Sono International acquired 11% of shares, which is half of the 22% stake held by JC Partners, for 47 billion KRW. They also secured a call option (stock purchase right) to buy the remaining 11% stake after June next year.

AP Holdings emphasized that it was not consulted during the share transaction process and reiterated its denial of the management rights sale rumors. They stressed, "We have no knowledge of the transaction information or process," and "There were no meetings, consultations, or agreements of any kind."

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