Jeju Air

Jeju Air Co., Ltd., is the first and largest South Korean low-cost airline. It is also a founding member of the Value Alliance. History Established as a joint venture by Aekyung Group and the Jeju Island government on January 25, 2005, Jeju Air became Korea's first low-cost airline. Jeju Air is named after the Jeju Island. In 2016, it helped found Value Alliance, the world's first pan-regional low-cost carrier (LCC) alliance, comprising eight Asia Pacific LCCs. In 2017, Jeju Air carried over 60 million passengers, with revenue reported of $890mm US operating profits over $80mm US. In 2018, Jeju Air carried 7.3 million international passengers along with 4.7 million domestic passengers. Its domestic traffic has been relatively flat since 2016 as it has focused almost entirely on international expansion. Jeju Air flight operations were affected by the coronavirus outbreak. In November 2020, there were approximately 3,100 employees at the airline. In August 2021, Jeju Air sold stock, raising $180 million for financing operations.