Jeju Air Buys Next-Generation Aircraft, Boosts Efficiency Through Fleet Modernization

Takes delivery of its 14th next-generation B737-8

Only Korean LCC to own purchased aircraft; they account for 34.9% of its fleet

Jeju Air has increased the number of purchased aircraft in its fleet to 15 with the addition of a new aircraft. The strategy is to reduce operating costs by introducing next-generation aircraft with high fuel efficiency amid high oil prices.

Jeju Air said on October 28 that it had purchased and taken delivery of its 14th next-generation B737-8 aircraft. The new aircraft is expected to enter service after completing relevant procedures, including airworthiness certification by the authorities.

With this addition, Jeju Air's B737-8 fleet has grown to 14 aircraft, accounting for 32.6% of its total 43 passenger aircraft. The number of purchased aircraft has also risen to 15, accounting for 34.9% of the total passenger fleet.

Jeju Air is the only low-cost carrier (LCC) in Korea to own purchased aircraft. As deliveries of new aircraft continue, the average age of its entire fleet has fallen to 11.4 years. The airline also plans to purchase and take delivery of one more aircraft by the end of the year, continuing to modernize its fleet.

The next-generation B737-8 has longer intervals between parts replacements than previous models, making it more cost-effective to maintain and repair. Boeing says the aircraft can reduce fuel consumption and carbon dioxide emissions by at least 15% compared with previous models.

Improved fuel efficiency from the introduction of new aircraft is also believed to have helped ease the burden of rising fuel costs. According to Opinet, the Korea National Oil Corporation's petroleum price information system, the average price of kerosene, the main raw material for jet fuel, was $140.80 per barrel in the first half of 2026, up 64.4% from $85.65 in the same period last year. In contrast, Jeju Air's fuel costs rose 42.6% over the same period, well below the increase in kerosene prices.

This is attributed in part to improved fuel efficiency resulting from the expanded introduction of B737-8 aircraft, which helped ease the burden of rising fuel costs. Jeju Air had 12 B737-8 aircraft in the first half of this year, seven more than in the first half of last year, and the number had risen to 14 as of October.

Over the same period, Jeju Air also increased its number of flights by 8.8% year on year. Despite the growing burden of fuel costs, it expanded its operations while improving operational efficiency through fleet modernization.

Jeju Air plans to systematically modernize its fleet by coordinating the introduction of new aircraft, the return and disposal of older aircraft, and the efficient operation and management of its existing aircraft.

A Jeju Air official said, "Amid high oil prices, introducing new aircraft with high fuel efficiency plays an important role in easing operating cost pressures. We plan to improve operational efficiency through fleet modernization and further strengthen the foundation for sustainable growth."

This content was produced with the assistance of AI translation services.