South Korea is witnessing a rise in passenger footfalls in international routes.
South Korea’s biggest low-cost airline Jeju Air Co Ltd stated, it plans on purchasing 40 Boeing 737 Max 8 airplanes worth $4.4 billion at list prices.
The deal marks the biggest contract by a South Korean carrier in numbers of a single aircraft type model, said Jeju Air while adding that the deal includes an option to buy an additional 10 aircraft.
The company plans on taking delivery of the aircraft between 2022 and 2026.
According to South Korea’s transport ministry, 6 South Korean budget carriers have witnessed the number of passengers, using international routes, quadruple to 20.3 million in 2017, up from 4.9 million in 2013.
“The order of Boeing 737 Max planes will help the company maintain its cost competitiveness, fuelling us to grow as a leading carrier,” said Jeju Air.
Jeju Air currently operates 58 routes with 38 Boeing 737-700 airplanes.