T'way's largest shareholder YeaRimDang has agreed to sell its equity to the Korean airline's second largest shareholder, according to local media a person familiar with the matter.
Daemyung Sono has agreed to acquire management rights to T'way Air after management dispute negotiations between YeaRimDang and Daemyung Sono.
YeaRimDang and T'Way Holdings collectively hold equity of 30.06%, while Daemyung Sono holds around 26.77%.
Daemyung Sono is expected to acquire management rights in Air Premia — another Korean low-cost carrier — now that it has acquired management rights to T'way.