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TWY-2015-12 - Seoul to Ho Chi Minh City.jpg
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Formed in 2004 and started operations in 2005. Formerly "Hansung Airlines." A Low Cost Carrier (LCC), scheduled & charter, domestic & international, passenger & cargo jet airplane services.
April 2004: The airline was established in 2004 as Hansung Airlines (TWY), which arose out of a collaboration between the city government of Cheongju and the University of Chungcheong.
August 2004: 1st airplane order for an ATR72.
August 2005: Hansung Airlines (TWY) received its Air Operator's Certificate (AOC).
The 1st commercial flight from Cheongju Airport to Jeju International Airport, took place on August 31, 2005.
October 2005: With the delivery of another 2 ATR72s, Hansung Airlines (TWY) launched services between Jeju and Gimpo.
December 2005: On December 19 2005, merely 4 months after the launch, Hansung Airlines (TWY) suspended all services due to budgetary constraints.
October 2008: In February 2006, flights could have been resumed, but financial difficulties remained, resulting in another shut-down this month, which was to last nearly 2 more years.
August 2010: The airline was formally re-launched on August 8, 2010, now under the changed name "T'way Airlines" (TWY).
September 2010: 1st 737-8K5 (27979, HL8232) delivery, ex-(D-AHFE), and 1st flight on September 15.
(IATA) Code: TW. (ICAO) Code: TWB - (Callsign - TWAY AIR).
Company slogan: "It's yours, t'way."
(ST) Aerospace signed 10-year contracts with South Korea's T'Way Air (TWY) to perform maintenance-by-the-hour component support of the carrier's 737-800 fleet and to perform maintenance on its (CFM56-7B) engines. Both contracts begin immediately and are valued at a combined $63 million. (TWY), based at Seoul Gimpo, currently operates 2 737-800s and plans to operate 3 by the end of the year. It projects it will operate 9 of the type by 2012.
January 2011: 737-8Q8 (30654, HL8237), (ILF) leased, ex-(N65LF).
September 2012: Korean authorities have designated 4 carriers from the Republic of Korea: (Asiana Airlines (AAR), Jin Air (JIN), Eastar Jet (EJS) and T’way Airlines (TWY)) to operate on the Seoul (ICN) to Vladivostok, Russia (VVO) route after the 2 countries agreed to remove restrictions.
Korean authorities have set frequencies to 36x-weekly flights from the 2012/2013 winter season. (AAR) will launch daily, A321 (ICN) to (VVO) service in November. Other carriers have not announced their plans.
January 2013: The AirAsia (ASW) group appears set to make acquisitions this year so it can expand its footprint farther across Asia. Possible takeover targets include Zest Air (RIT) in the Philippines, plus T'way (TWY) and Eastar (EJS) in South Korea. The (ASW) group is also believed to be eyeing potential opportunities to launch a carrier in Cambodia. To help fund its expansion and boost its balance sheet, AirAsia (ASW) plans to float some of its businesses. Its Kuala Lumpur-based, medium-haul low-cost carrier (LCC) AirAsia X (ASX) aims to have an initial public offering (IPO) early in 2013 on the Kuala Lumpur stock exchange. AirAsia (ASW) also wants to float its Indonesian affiliate, Indonesia AirAsia (AWR), on the Jakarta stock exchange.
May 2014: T'Way Airlines (TWY) began 2x-weekly, Incheon to Jinan Boeing 737-800 service.
July 2014: 737-8GJ (34899, HL8021), ex-(VT-SPL), Babcock & Brown (BBB) leased.
April 2015: South Korean low-cost carriers (LCCs) will need to change their strategy as the market matures, T’way Air (TWY) President & (CEO) Hahm Chul-ho said. T’way Air (TWY) is South Korea’s longest established (LCC).
Hahm said the current strategy that was working for Korean (LCC)s (targeting niche markets with a limited number of airplanes) will have to change as (LCCs) take some 50% of the local market.
“Targeting niche markets was the answer for a 1st-stage strategy,” he said, adding that with only 5 airplanes (TWY)’s approach worked within a set of limited resources.
“However, this strategy is not sustainable, because if (TWY) succeeds [on] a new route, other (LCC)s follow,” Hahm said. He cited examples (such as domestic operations from Daegu, Gwangju, and Muan to Jeju and Guam) that have now been joined by other local (LCC)s (including Jeju Air (JJA), Jin Air (JIN), Eastar Jet (EJS) and Air Busan (ABN)) with 10 and 20 airplanes.
Having taken delivery this month of its latest new aircraft, a Boeing 737-800, the company said it is time to look at a new approach. “From now on, the number of [our] planes will grow faster than ever before and we will have to use frontal tactics—that is we will operate in established markets and take market share,” he said, adding that demand is still increasing.
“It is a matter of what tactics we use, and we're working on that,” Hahm said.
May 2015: News Item A-1: "Korean Transport Ministry is Pushing for Aircraft Age Limit" by Jeremy Torr, Air Transport World (ATW), May 22, 2015.
Korea’s Ministry of Land, Infrastructure, & Transport (MLIT) is urging all Korean airplane operators to replace or mothball all airplanes that are more than 2 decades old.
The (MLIT) said that 8 of the country’s carriers had signed a Memo of Understanding (MOU) in which they “voluntarily agreed to replace all their airplanes that are 20 years old or older.”
The move comes following a spate of airplane maintenance issues in the region.
In April, Japan and Korea suspended charter flights from Thailand following an (ICAO) inspection, and 2 air operator’s certificates (AOCs) in the Philippines were withdrawn recently following a European Aviation Safety Agency (EASA) audit.
To date, Korean Air (KAL), Asiana Airlines (AAR), Air Busan (ABN), Jeju Air (JJA), Jin Air (JIN), Air Incheon (ICH), Eastar Jet (EJS), and T’way Air (TWY) have all agreed to the 20-year ruling.
The (MLIT) said the agreement was part of Korea’s “ongoing efforts to improve on airline safety.” The (MLIT) said records indicate that of 264 airplanes in service this month, some 14 are (MLIT)’s new voluntary age limit. These are 4 Korean Air (KAL) 747-400s, Air Incheon (ICH) 737-400Fs, and Asiana (AAR) 767-300 and 747-400Fs.
Korean Air (KAL)’s average airplane age is 9.89 years; No 2 carrier, Asiana Airlines (AAR), has an average airplane age of 8.47 years, according to the Ministry.
Compared to the USA, Korean fleets are mere toddlers, the (MLIT) said, citing Delta Air Lines (DAL)’s fleet that has 234 airplanes 20+ years old, and American Airlines (AAL)’s fleet, which has 233+ airplanes of that age or more.
Although the (MLIT) noted that “there currently is no limit on the age or lifespan of an airplane,” it said the move would help improve both overall safety and efficiency.
September 2015: "T’way Air (TWY) Extends Services to North America"
by (ATW) Jeremy Torr, September 2015.
Korea’s longest established low-cost carrier (LCC) T’way Air (TWY) has been granted a Foreign Air Carrier Permit (FACP) by the USA Department of Transportation. This will allow (TWY) to extend its current regional passenger services to North American destinations, as well as provide cargo capacity on the same routes.
With (LCC) carriers now taking some 50% of all passenger traffic in Korea, regional (LCC) operators are looking overseas for continued growth.
Initially, T'way (TWY) will run a daily Boeing 737-800 schedule from Incheon, Seoul to USA Protectorate Guam’s Antonio B Won Pat International Airport, starting late September. In October, (TWY) will introduce a 3x-week service from Daegu International to Guam, via Osaka Kansia International.
The move to North America for T’way (TWY) comes on the heels of the imminent arrival of Asiana Airlines (AAR)’s new (LCC) subsidiary Seoul Air, which will compete directly with (TWY) on its established Korea - Japan regional routes.
More importantly, (TWY) will now be able to fly charter services to other mainland USA territories and cities, opening up the possibility of direct competition with Asiana (AAR) on routes to its mainland destinations such as San Francisco, New York, Seattle, and Chicago.
3 other Korean (LCC)s currently offer Korea to Guam services (Jin Air (JIN), Jeju Air (JJA), and Air Busan (ABN)) even before Seoul Air takes to the skies. This reinforces T’way Air (TWY)’s recent commitment to change strategy outside its regional niches to continue expanding.
December 2015: T’way air (TWY) chose December 24 as the day to launch its 1st service to Vietnam. On that day, (TWY) began daily flights on the 3,560 km sector from Seoul Incheon (ICN) to Ho Chi Minh City (SGN). Competition on the route will be pretty intense as 4 carriers already serve the market; Asiana Airlines (AAR) (2x-daily), Korean Air (KAL) (3x-daily), Vietnam Airlines (VIE) (2x-daily) and VietJetAir (VJE) (daily flights). With T’way air (TWY)’s entry into the market, there will now be 9 daily flights between the 2 cities.
This winter, T’way air (TWY) will be serving 12 destinations from Seoul Incheon, of which 6 are in Japan, while the other 6 spread across 6 different countries; China, Guam, Laos, Macau, Thailand, and Vietnam.
May 2016: T’way Air (TWY) on May 17 added Wenzhou (WNZ) in China to its network with the introduction of 3x-weekly flights on the 1,184 km route from Seoul Incheon (ICN). The route is already flown by Air China (BEJ), which has been operating a 3x-weekly service since April 27.
T’way Air (TWY) will serve the route using its 737-800s, of which it currently has 14. According to (TWY)’s booking tool, (TWY) offers flights from Seoul Incheon to 4 destinations in China (the others being Jinan, Qingdao, and Sanya), as well as Macau, and also operates a Daegu to Shanghai service.
In 2015, Wenzhou Longwan International Airport handled 7.36 million passengers, making it China’s 33rd busiest airport.