Korea’s Tire Bank takes controlling stake in Air Premia
May 10, 2025
Tire Bank Group has become the majority shareholder of Air Premia, a South Korean long-haul hybrid airline.
The group finalised a deal to acquire an additional 22% of Air Premia’s equity from JC SPC and Sono International. The transaction brings Tire Bank’s total ownership to over 70%, consolidating its position as the airline’s principal stakeholder.
Founded in 2018, Air Premia has positioned itself as a hybrid carrier blending low-cost efficiency with full-service comfort.
Tire Bank has backed the airline since its inception, providing financial support through its formative years and amid global disruptions including the Covid pandemic. Its investment approach has been gradual, reaching 48% ownership before this latest acquisition.
“Airlines are more than businesses – they represent the dignity and global standing of a nation,” said Kim Jeong-kyu, Chairman of Tire Bank Group.
“We are committed to building Air Premia into a premium hybrid airline that proudly represents Korea and elevates its presence in the global aviation market.”
The timing of the deal aligns with Air Premia’s ongoing fleet and network expansion efforts. The airline currently operates seven Boeing 787-9 Dreamliners, with two more set to join the fleet later this year.
On 2 July, it will launch a new direct route to Honolulu, marking its fourth US destination.
