South Korean low-cost airline T’Way Air, which is rebranding as Trinity Airways, has announced a reduction in its seasonal flights between Seoul and Zagreb this summer. The airline, which plans to resume services with Airbus A330-200 aircraft on June 27, will now operate only two weekly flights on Thursdays and Saturdays, canceling the Tuesday departures, and will end these operations by August 29, instead of October 24 as previously scheduled. This decision is part of measures to manage ongoing financial difficulties amid rising fuel prices and debt issues.
The airline’s financial struggles have intensified since early 2024, with ongoing losses and negative equity levels. Despite efforts to raise capital, the airline remains under stress, and since March 16, T’Way Air has been operating under emergency management mode, indicating potential further cost-cutting or operational adjustments. In response to its financial situation, the airline has also offered voluntary unpaid leave to its crew members, aiming to reduce expenses and address crew fatigue.
Financial losses have been substantial, with USD 9 million lost in 2024 escalating to USD 238 million in 2025. The adverse effects of currency exchange rates have further compounded financial pressures, leading the airline to suspend several routes from May through October. T’Way Air’s situation exemplifies the broader challenges faced by airlines operating in a volatile economic environment exacerbated by geopolitical tensions and rising fuel costs.
