Jeju Air orders up to 50 737 MAX jets from Boeing
Nov 20, 2018: Korean low cost carrier Jeju Air has entered into a deal with Boeing for 40 737 MAX 8 airplanes with options for 10 additional jets. The deal, valued at up to $5.9 billion at list prices, reflects rising demand for air travel in South Korea.
"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, based in South Korea's Jeju Island, began operation in 2005 as the country's first low-cost carrier. Jeju Air is looking to build on its success with the enhanced version of the 737 jet. The 737 MAX 8 provides more range and offers 14 percent better fuel efficiency and environmental performance thanks to the latest CFM International LEAP-1B engines, Advanced Technology winglets, and other aerodynamic improvements.
Along with the new airplanes, Boeing Global Services will provide Jeju Air with digital tools to reduce their operating costs. The solutions include the Fuel Dashboard Programme, which allows operators to look across their fleet and identify areas where they can optimise their fuel spending.
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.