Budget carriers raising funds to ride out 4th wave of pandemic

Budget carriers raising funds to ride out 4th wave of pandemic
Posted : 2021-07-19 15:17
Updated : 2021-07-19 16:46
Aircraft owned by low-cost carriers are parked at Gimpo International Airport in Seoul in this July 2020 file photo. Yonhap
By Park Jae-hyuk
Domestic low-cost carriers are going all out to draw investments to cope with snowballing losses caused by the COVID-19 pandemic and to prevent the government from revoking their licenses due to capital impairment, their regulatory filings showed Monday.
T'way Air could avoid capital impairment after raising 80 billion won ($70 million) in April by selling 31.8 million newly issued stocks to W Value-up, a special purpose vehicle established by JKL Partners, a local private equity firm (PEF).

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