Tire Bank Group Acquires Controlling Stake in Air Premia

Paving the Way for Stronger Governance and Global Expansion of Korea's Leading Hybrid Airline

SEOUL, South Korea, May 8, 2025 /PRNewswire/ -- Tire Bank Group has officially acquired a controlling stake in Air Premia(CEO Kim Jae-hyun, Yoo Myung-sub), Korea's first long-haul hybrid airline, reinforcing its commitment to advancing the country's aviation industry on a global scale.

On April 30, 2025, Tire Bank Group signed a definitive agreement to acquire an additional 22% equity stake in Air Premia from JC SPC and Sono International. This acquisition raises the Group's total ownership to over 70%, solidifying its position as the airline's majority shareholder.

Since Air Premia's launch in 2018, Tire Bank Group has played a pivotal role in supporting the airline's development through strategic investments. Despite global headwinds and the unprecedented impact of the COVID-19 pandemic, Air Premia has demonstrated remarkable operational resilience and adaptability.

Tire Bank Group maintained unwavering confidence in the airline's potential, steadily increasing its ownership to 48% during turbulent times. Now, with a controlling interest, the Group is positioned to drive responsible management practices and long-term growth strategies.

Fleet and Route Expansion Underway

Air Premia is actively expanding its fleet and route network as part of its mid- to long-term growth plan. The airline currently operates seven Boeing 787-9 aircraft, with two additional aircraft set to be introduced later this year. Beginning July 2, the carrier will launch a new route to Honolulu, Hawaii - its fourth scheduled destination in the USA. To bolster operational stability, additional spare engines have also been secured.

Executive Statement

"Airlines are more than businesses—they represent the dignity and global standing of a nation," said Kim Jeong-kyu, Chairman of Tire Bank Group. "We are committed to building Air Premia into a premium hybrid airline that proudly represents Korea and elevates its presence in the global aviation market."

About Tire Bank Group

Founded in 1991, Tire Bank is Korea's first and only dedicated tire distribution company, operating 501 stores across the country. With a customer-first philosophy, the company has introduced a range of industry-first services, including a tire warranty program, tire hotel premium storage service, and an emergency response program for tire-related issues. Tire Bank also actively contributes to local communities through various charitable and donation initiatives.

For media contact, or additional information, please contact:
Seung Shin Park
ss.park@airpremia.com
https://www.airpremia.com/

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Tire Bank Group Acquires Controlling Stake in Air Premia

Tire Bank Group Acquires Controlling Stake in Air Premia

JEDDAH, Saudi Arabia, Jan. 12, 2026 /PRNewswire/ -- Dar Global (LSE: DAR), the London-listed international luxury real estate developer, announced today the official launch of Trump Plaza Jeddah, marking its third prestigious collaboration with The Trump Organization in Saudi Arabia. Valued at over USD 1 billion, this landmark development, strategically located within the expansive Amaya development along King Abdulaziz Road, is poised to redefine luxury urban living in Jeddah's thriving real estate landscape, following the successful launch of Trump Tower Jeddah in December 2024.

 

Residential offerings include fully furnished 1, 2, and 3-bedroom Trump Executive Residences; premium 2, 3, and 4-bedroom Trump Park Residences; and exclusive 4-bedroom Trump Townhouses. Together with thoughtfully designed home offices, premium retail, and curated dining, the project redefines modern living by blending convenience and luxury into a single, connected destination. Optional rental management services further enhance the appeal for international owners seeking a turnkey ownership experience.

Eric Trump, Executive Vice President of The Trump Organization, commented: "Expanding our presence in Saudi Arabia with Trump Plaza Jeddah underscores our commitment to world-class quality and iconic design. This project reflects the strength of our relationship with Dar Global and our confidence in Jeddah as a dynamic, globally relevant city. Trump Plaza Jeddah will set a new benchmark for integrated urban destinations."

Ziad El Chaar, CEO of Dar Global, added: "The launch of Trump Plaza Jeddah represents a major milestone in our Saudi portfolio. This is not a single-use development, but a carefully curated urban ecosystem designed for global residents who want to live, work, and connect within the best address in Jeddah. Anchored by a private park and supported by world-class amenities, Trump Plaza Jeddah introduces a new model for modern city living in the Kingdom."

Central to the lifestyle offering is the exclusive 4,000-square-metre Vitality Club, with golf simulators, a spa, sports medicine and recovery facilities, swimming pools, dining, and high-performance wellness spaces. Destination retail and dining, including Trump Grill, Trump Daily, an artisan bakery, and a fitness pro shop, reinforce its positioning as a district day and night.

Located at the heart of the 1,000,000-square-metre Amaya development, Trump Plaza Jeddah anchors a new, highly integrated urban district that reflects the Kingdom's growing prominence as a global real estate destination, supported by foreign-ownership incentives, a 0% capital gains tax, and accelerated infrastructure investment.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

DAR GLOBAL AND THE TRUMP ORGANISATION EXPAND SAUDI PORTFOLIO WITH USD 1BN TRUMP PLAZA JEDDAH