T'Way Air Cash Flow Statement

Financials in millions KRW. Fiscal year is January - December.

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-338,260	-65,878	99,132	-118,672	-156,244
Depreciation & Amortization	175,557	116,501	100,047	92,125	91,911
Loss (Gain) From Sale of Assets	836.97	59.43	84.19	9.55	14.92
Loss (Gain) From Sale of Investments	5,233	596.5	-3,330	999.48	-
Loss (Gain) on Equity Investments	-	-	-	-	50.27
Stock-Based Compensation	-	-	196.74	806.84	610.1
Provision & Write-off of Bad Debts	56.92	13.86	-1.06	14.92	10.6
Other Operating Activities	284,168	226,292	179,629	82,590	62,541
Change in Accounts Receivable	-9,558	-6,322	-8,185	-17,613	-1,641
Change in Inventory	1,093	-18,682	-7,938	-4,762	1,544
Change in Income Taxes	-	-	-	-78.17	-14.36
Change in Other Net Operating Assets	51,936	19,853	55,652	130,574	36,313
Operating Cash Flow	171,063	272,434	415,288	165,995	35,096
Operating Cash Flow Growth	-37.21%	-34.40%	150.18%	372.97%	-
Capital Expenditures	-56,009	-99,111	-37,935	-10,930	-3,458
Sale of Property, Plant & Equipment	4.61	154	72.57	0.71	4.04
Sale (Purchase) of Intangibles	-532.28	-709.7	-1,336	-207.03	-58.38
Investment in Securities	45,441	-13,669	-32,707	-36,957	3,522
Other Investing Activities	-179,171	-111,056	-70,573	-57,568	-34,113
Investing Cash Flow	-190,268	-224,392	-142,478	-105,661	-34,104
Short-Term Debt Issued	-	-	-	46,940	-
Long-Term Debt Issued	-	-	-	-	1,508
Total Debt Issued	-	-	-	46,940	1,508
Short-Term Debt Repaid	-	-	-35,466	-58,152	-
Long-Term Debt Repaid	-148,941	-103,841	-92,067	-73,982	-73,891
Total Debt Repaid	-148,941	-103,841	-127,533	-132,133	-73,891
Net Debt Issued (Repaid)	-148,941	-103,841	-127,533	-85,194	-72,382
Issuance of Common Stock	209,806	-	-	119,598	79,919
Dividends Paid	-1,238	-	-	-	-
Other Financing Activities	34,171	-38,986	-34,737	-26,426	-24,399
Financing Cash Flow	93,798	-142,827	-162,270	7,978	-16,863
Foreign Exchange Rate Adjustments	2,513	5,636	256.17	-649.62	222.29
Net Cash Flow	77,107	-89,148	110,796	67,662	-15,648
Free Cash Flow	115,053	173,323	377,352	155,065	31,638
Free Cash Flow Growth	-33.62%	-54.07%	143.35%	390.12%	-
Free Cash Flow Margin	6.40%	11.28%	27.98%	29.49%	14.76%
Free Cash Flow Per Share	487.75	812.97	1754.04	1075.09	287.30
Cash Interest Paid	54,909	38,986	34,737	26,426	24,399
Cash Income Tax Paid	-184.79	7,309	4,089	-	38.6
Levered Free Cash Flow	-14,059	14,670	163,871	128,024	38,720
Unlevered Free Cash Flow	20,328	39,425	185,048	145,442	54,795
Change in Working Capital	43,471	-5,151	39,529	108,121	36,202

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.