JEJU-DO < invest Korea

According to Yonhap News,

(SEOUL=Yonhap News) Jeju Air Co., South Korea's largest budget carrier, said Thursday that it has added a new plane to its growing fleet as part of ongoing efforts to expand its market presence.

The company, which is owned by Aekyung Industrial Co. and uses Jeju Island as its main hub, said the Boeing B737-800 jet will augment its fleet of 16 planes already in service.

It said the latest acquisition is the fifth plane it has taken over this year, which allows the carrier to offer 6.3 million seats to passengers, up 18 percent compared to last year.

The company said that it plans to take over six more B737-800 jets next year and return two, which will increase its fleet to 21 by the end of 2015.

"Next year will mark the first time in the history of South Korean budget carriers that a company will have more than 20 jets," Jeju Air said.

It said the new plane will make it easier for Jeju Air to start flight operations between Incheon International Airport (IIA) and Hanoi starting on Dec. 18. The extra plane can also facilitate more flights between IIA and Fukuoka.

As of October, Jeju had a 14.5 percent market share of domestic flights, up 2 percentage points compared to last year. Its share of international flights edged up 0.7 percentage point to 5.7 percent in the same period.

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