Jeju Air said on the 6th that it has accelerated its fleet reshuffle by selling two aging aircraft more than 20 years old. With the sale, the average age of Jeju Air's fleet is now 11.8 years.
The sale of aging aircraft is part of a fleet modernization strategy pursued since 2023. In Nov. last year and Feb. this year, two aging B737-800 leased aircraft with expired contracts were returned.
Along with selling and returning aging aircraft, the company has continued to introduce new aircraft, purchasing and bringing in one B737-8 each in February and March. Jeju Air plans to purchase and introduce five additional aircraft by the end of this year.
This is also increasing the share of owned aircraft. Of the 42 passenger jets currently operated by Jeju Air, 14, or 33.3%, are owned. Jeju Air plans to boost cost competitiveness by increasing the share of owned aircraft.
Unlike leased aircraft, owned aircraft do not incur large restoration maintenance expenses at the end of the contract for returning the aircraft, and they can also ease maintenance provisions set aside for future maintenance expenses.
Jeju Air said fuel efficiency gains from expanding the introduction of next-generation aircraft are improving its expense structure, and that cumulative fuel costs in 2025 were down about 16% from the previous year.
A Jeju Air official said, "By selling aging aircraft while introducing next-generation models, we are fundamentally improving the health of our fleet," adding, "We plan to build a foundation for sustainable growth by raising both operational safety and cost competitiveness."