South Korean low-cost carrier Jeju Air has placed an order valued at up to $5.9bn for a maximum of 50 737 MAX aircraft with Boeing.
The deal includes 40 firm orders and an option for ten additional planes.
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As part of the deal, Boeing Global Services will also provide digital tools to Jeju Air to reduce the latter’s operating costs.
Jeju Air started operations in 2005 and currently operates a fleet of 40 next-generation 737-800 jets to serve 60 domestic and international destinations.
Jeju Air CEO and president Seok-Joo Lee said: “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.
“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.”
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By GlobalDataJeju Air is also expected to benefit from the improved version of the 737 jet, 737 MAX 8, which is designed to provide 14% more fuel efficiency and environmental performance.
The 737 MAX 8 aircraft are powered by CFM International LEAP-1B engines, as well as feature Advanced Technology winglets and other aerodynamic improvements.
In September, Boeing secured an order from Air Peace for ten 737 MAX 8 aircraft.
The company has so far received approximately 4,800 orders for the 737 MAX jets from more than 100 customers worldwide.
