Jeju Air orders Boeing 737 MAX

South Korean low cost carrier, Jeju Air, has signed for a firm order of 40 Boeing 737 MAX 8s, with purchase rights for an additional 10.

The deal, valued at $4.4 billion at list prices, will see the jets begin to arrive at the airline between 2022 and 2026. Options to convert the aircraft to the larger 737 MAX 10 are also part of the deal and will be exercised if the airline sees the need for a larger aircraft.

President and CEO of Jeju Air, Seok-Joo Lee, reflected on the order in the following statement to media:

“With Korea’s growing commercial aviation market, we are excited to take the next step in expanding our business with the 737 MAX, a world-class airplane that will allow us to improve our operation and continue to provide a safe and enjoyable experience for our passengers.”

He continued to add to the statement with:

“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.”

Jeju Air plans to use the new aircraft to replace their fleet of Boeing 737-800s as well as operate new, longer routes throughout Asia.

As part of the agreement, Boeing Global Services will be providing Jeju Air with digital tools to reduce operating costs and eliminate any inefficiencies.