T'way Air sets sales target of W1.8 tril. in 2024 with planned European routes

T’way Air has high hopes for stronger earnings growth next year, fueled by potential expansion into Europe in place of the nation’s two mega carriers which may merge, according to the company's CEO. “Our target sales are forecast to hit 1.8t won ($1.38b) in 2024, if we are granted permission to operate air routes from Korea to major European cities,” T’way Air CEO Jeong Hong-geun said. The EC is still reviewing whether T’way Air is qualified to operate four air routes from Korea to Frankfurt, Paris, Rome and Barcelona, after Korean Air decided to give up the traffic rights for its high-stakes acquisition of Asiana Airlines. The decision is part of a tradeoff offered by Korean Air to seek approval for the long-delayed deal. But the head of T’way displayed confidence that the antitrust watchdog will give the green light to the deal. “We will create new opportunities by launching our first European air routes,” he said. “If Korean Air’s ongoing takeover of Asiana makes smooths progress, we will be able to lease five A330 passenger jets from Korean Air. Under the optimistic scenario, T’way is ready to launch our first air route to Paris sometime around June next year.” Story has more.<br/>