Jeju Air, the South Korean low-cost carrier, is moving ahead with its expansion plans by placing an order with Boeing for three more aircraft.
The new 737-800 aircraft are worth almost US$300 million at list prices and will add to the airline’s existing fleet of 26 aircraft, all of which are 737s. The carrier has set a longer-term goal of reaching a fleet of 40 aircraft.
“This acquisition is a major step in our growth strategy,” said Ken Choi, CEO of Jeju Air. “We fully understand the benefits of owning and operating airplanes, which is what drove our decision to purchase these airplanes. We are confident that this order will enable Jeju Air to further strengthen our position as a leading low-cost carrier in Northeast Asia.
“The 737 forms the backbone of our fleet and it has been a reliable work-horse for our airline over the past decade,” he added.
Jeju Air launched operations in 2006 and now serves 40 domestic and international routes with approximately 150 daily flights. Its international network includes services to destinations as far afield as Cambodia, Malaysia, Thailand and the Northern Mariana Islands.