Jeju Air orders up to 50 737 MAX aircraft
By Wings Staff
Jeju Air, a low-cost airline based in South Korea’s Jeju Island, is ordering 40 Boeing 737 MAX 8 airplanes with options for 10 additional jets. The deal, valued at up to US$5.9 billion at list prices, is the largest order ever placed by a Korean low-cost carrier.
By Wings Staff
“The 737 MAX 8 and its superior performance and economics make it an ideal airplane to implement our growth strategy as we look to expand beyond Asia in the coming years,” said Seok-Joo Lee, president and CEO of Jeju Air.
Jeju Air began operations in 2005 as the country’s first low-cost carrier. Flying a fleet of nearly 40 Next-Generation 737-800s, Boeing explains Jeju Air has steadily expanded its business. The airline states it has achieved 25 per cent annual sales growth over the past five years and recorded 17 consecutive quarters of profitability.
“We are extremely proud that Jeju Air has become a leader in the vibrant LCC market by flying the Boeing 737,” said Ihssane Mounir, senior vice president of commercial sales and marketing for Boeing. “And we are delighted that the airline has chosen to build their future fleet with this major order for the 737 MAX.”
Jeju Air serves 60 domestic and international routes with approximately 200 daily flights. The carrier is a founding member of the Value Alliance, the first pan-regional low-cost carrier alliance formed with eight airlines based in Asia.