Jeju Air Co., Ltd. (제주항공) is South Korea’s first and largest low-cost airline, established on January 25, 2005, as a joint venture between Aekyung Group and the Jeju Island government. It is a founding member of the Value Alliance, the first pan-regional low-cost carrier alliance.
Jeju Air operates 40 Boeing 737-800s and has ordered 40 B737-8s, to be introduced from 2023. The airline serves 87 routes across 14 countries and 51 cities. It is the leading carrier on the Korea-Japan route and ranks as the most punctual airline in Northeast Asia and fifth globally.
With a 28% market share in 2018, Jeju Air is the top low-cost carrier and the second overall airline in Korea. It operates from eight Korean hub airports, both domestically and internationally. Despite challenges from the coronavirus outbreak, Jeju Air raised $180 million through a stock sale in August 2021 to support its operations.
