South Korea's Jeju Air orders 40 Boeing planes worth $4.4b

Jeju Air, South Korea’s biggest low-cost carrier, purchased 40 Boeing 737 Max 8 planes worth $4.4b, the airline said Tuesday. The deal marks the biggest contract by a South Korean carrier in numbers of a single aircraft type model, the company said. Reuters exclusively reported earlier this month that Jeju Air was in talks with Boeing and Airbus to buy 50 jets as the airline planned to expand its network that includes one of the world’s busiest routes. The purchase contract includes an option to buy an additional 10 aircraft, Jeju Air said. The airline operator said it planned to take delivery of the planes between 2022 and 2026. Six South Korean budget carriers saw the number of passengers using international routes quadruple to 20.3m in 2017 from 4.9m in 2013, according to South Korea’s transport ministry. “The order of Boeing 737 Max planes will help the company maintain its cost competitiveness, fuelling us to grow as a leading carrier,” Jeju Air said.<br/>