Jeju Air

Jeju Air Co., Ltd., is the first and largest South Korean low-cost airline. It is also a founding member of the Value Alliance. In addition to air service, the group is also the owner of a Holiday Inn Express in Seoul. The airline is named for Jeju Island.

History
The airline was established as a joint venture by Aekyung Group and the Jeju Island government on January 25, 2005. It was established under a different Korean name (a transliteration of "Jeju Air"). It received a business license in August 25, 2005, which made it the third major airline in the country after Korean Air and Asiana Airlines. On September 20, 2005, it changed its Korean name to its current form. It acquired its first aircraft on May 2, 2006, and had its first commercial flight, on the Jeju-Gimpo route, on June 5, 2006. By the end of 2006, it had five aircraft.

In 2016, it helped found Value Alliance, the world's first pan-regional low-cost carrier (LCC) alliance, comprising eight Asia Pacific LCCs. In 2017, Jeju Air carried over 60 million passengers, with revenue reported of $890mm US operating profits over $80mm US. In 2018, Jeju Air carried 7.3 million international passengers along with 4.7 million domestic passengers. Its domestic traffic has been relatively flat since 2016 as it has focused almost entirely on international expansion.

Jeju Air flight operations were affected by the coronavirus outbreak. In November 2020, there were approximately 3,100 employees at the airline. In August 2021, Jeju Air sold stock, raising $180 million for financing operations.

Destinations
Jeju Air offers scheduled domestic services, as well as international destinations including China, Japan, Oceania, and Southeast Asia.

Codeshare agreements
Jeju Air codeshares with the following airlines.


 * Jetstar
 * Lion Air

Current fleet
, Jeju Air operates an all-Boeing 737 fleet composed of the following aircraft:

Accidents and incidents

 * On 12 August 2007, Jeju Air Flight 502, a De Havilland Canada Dash 8-400 (registered HL5256) had performed a runway overshoot at Gimhae International Airport. All 74 passengers and 5 crews survived, but 6 passengers suffered minor injuries. Jeju Air Flight 502 is the first and the only incident of Jeju Air.