Seoul-based barrier T’way Air is continuing its expansion, with the airline signing a leasing agreement with Avolon for further aircraft.
To support T’way’s long-haul growth and international expansion, the airline will take delivery of five Airbus A330neos. The aircraft will be delivered in 2026 and will support T’way’s expansion of its international route network, which already operates to 55 destinations.
T’way is an existing Avolon customer and will become the 12th A330neo operator in Avolon’s customer base.
The airline currently operates four Airbus A330-200 and three Airbus A330-300, with two more aircraft due to join the fleet.
The widebody production recovery is lagging behind narrowbodies resulting in a tighter market and longer wait times for widebody aircraft. In its 2024 Outlook: New Horizons paper, Avolon forecasted that the remaining delivery slots from manufacturers for widebody aircraft will be sold out to 2030 by the end of this year.
In Quotes
Paul Geaney, President and Chief Commercial Officer, Avolon commented:
“The T’way Air team is rapidly expanding the airline’s operations and we are delighted to have them as a new A330neo customer. The A330neo provides an ideal widebody solution to support their growth strategy. With the largest lessor committed fleet of 447 aircraft, we are well-placed to support our global customers as they look for capacity to meet the continuing high levels of travel demand.”
Hong Geun Jeong, Representative Director, T’way Air commented:
“We have forged a strong relationship with Avolon and partnering on these new A330neos is an important next step in our growth ambitions. With 55 destinations and plans to expand our network the aircraft will help us in our mission to offer passengers exceptional service, reliability and value.”
The “alternative” option.
T’way Air is slowly growing itself to a point where it can start to compete against the incumbent Korean Air (which is in the process of absorbing Asiana) on both routes and networks. For Korean Air, its very important – as this will satisfy various regulators – European, British or American – to complete the merger.
T’Way Air has had a busy summer working out the first routes to Europe – and the planned expansion of extra aircraft in its fleet could prove key to that.
With T’Way due to take delivery of further aircraft, I’d be interested to see what other markets they consider – and if the A330neos have the legs for a transpacific crossing with the passenger numbers they would like to carry profitably…
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