SEOUL, Aug. 16 (Yonhap) — Jeju Air Co., South Korea’s leading budget airline, said Wednesday that it will acquire two B737-8 passenger jets this year to bolster its fleet and maximize fuel efficiency.
The two planes are part of the 40 B737-8s that Jeju Air procured from Boeing in 2018, with the remaining 38 B737-8s set to be added to its fleet in the near future. The contract also provides for 10 extra B737-8s, depending on market conditions.
Jeju Air stated that the new fuel-efficient aircraft will help reduce operating costs as the B737-8 is 15 percent more fuel-efficient than the B737-800NG plane.
The low-cost carrier currently operates six domestic routes and 50 international routes using 38 B737-800NG passenger jets. Its long-term goal is to replace all of the B737-800NGs with the B737-8 aircraft.
From January to June, Jeju Air turned a net profit of 68.1 billion won (US$50 million) from a net loss of 120.6 billion won a year earlier, due to the increased travel demand after the lifting of most COVID-19 restrictions.
The airline is hopeful of a turnaround this year after posting net losses for four consecutive years through 2022.
This undated file photo provided by Jeju Air Co. shows a B737-8 passenger jet. (PHOTO NOT FOR SALE) (Yonhap)