Jeju Air Sells Two Aging Aircraft, Lowers Average Fleet Age to Accelerate Modernization

Jeju Air is accelerating its fleet modernization efforts by phasing out aging aircraft that have been in service for over 20 years.

Jeju Air B737-800 Aircraft. Jeju Air

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Jeju Air announced on May 6 that it has recently sold two aging aircraft, reducing the average age of its passenger fleet to 11.8 years.

As part of its fleet modernization strategy, which has been underway since 2023, Jeju Air purchased and introduced one B737-8 aircraft each in February and March of this year. The company plans to acquire five additional aircraft by the end of the year.

Jeju Air returned two B737-800 aging leased aircraft whose contracts expired in November 2023 and February 2024, and sold two purchased aircraft in March and April. The company currently operates a total of 42 passenger aircraft, of which 14, or about 33.3%, are owned rather than leased.

Jeju Air is the only domestic low-cost carrier to purchase and introduce aircraft, thereby strengthening its cost competitiveness.

Unlike leased aircraft, owned aircraft do not incur substantial restoration and maintenance expenses at the end of the contract. The maintenance provisions set aside for future maintenance expenses can also be eased. In addition, the ability to operate assets through various means such as sales and leases improves liquidity and enhances strategic flexibility.

The introduction of next-generation aircraft has improved fuel efficiency, leading to an improved cost structure. In fact, cumulative fuel costs in 2025 decreased by approximately 16% compared to the previous year.

A Jeju Air official stated, “By simultaneously selling aging aircraft and introducing next-generation models, we are fundamentally improving the structure of our fleet. We plan to establish a foundation for sustainable growth by enhancing both operational safety and cost competitiveness.”

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