T'way Air Co., Ltd. (/ˈtiːˌweɪ/; Korean: 티웨이항공; Hanja: 티웨이航空), formerly Hansung Airlines (한성항공), is a South Korean low-cost airline based in Seongsu-dong, Seongdong-gu, Seoul. It operates scheduled domestic, regional and long-haul flights from its two bases at Gimpo and Incheon.
A low-cost carrier (LCC) or low-cost airline, also called a budget or discount carrier or airline, is an airline that is operated with an emphasis on minimizing operating costs. It sacrifices certain traditional airline luxuries for cheaper fares. To make up for revenue lost in decreased ticket prices, the airline may charge extra fees, such as for carry-on baggage.
The term originated within the airline industry referring to airlines with a lower operating cost structure than their competitors. The term is often applied to any carrier with low ticket prices and limited services regardless of their operating models. Low-cost carriers should not be confused with regional airlines that operate short-haul flights without service, or with full-service airlines offering some reduced fares.