The airline was established as a joint venture by Aekyung Group and the government of Jeju Province on 25 January 2005. It was established under a different Korean name (제주에어; a transliteration of "Jeju Air"). It received a business license on 25 August 2005, which made it the third major airline in the country after Korean Air and Asiana Airlines. On 20 September 2005, it changed its Korean name to its current form. It acquired its first aircraft on 2 May 2006, and had its first commercial flight, on the Jeju-Gimpo route, on 5 June 2006. By the end of 2006, it had five aircraft.[4] In addition to air service, the group is also the owner of a Holiday Inn Express in Seoul.[5]
In 2016, it helped found Value Alliance, the world's first pan-regional low-cost carrier (LCC) alliance, comprising eight Asia Pacific LCCs.[6] 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.[7]
Jeju Air flight operations were affected by the coronavirus outbreak. In November 2020, there were approximately 3,100 employees at the airline.[8] In August 2021, Jeju Air sold stock, raising $180 million for financing operations.[9]
In 2024, in the National Customer Satisfaction Index (NCSI) organized by the Korea Productivity Headquarters, Jeju Air was ranked No. 1 in the LCC category for the third consecutive year.[10]
On 29 December 2024, Jeju Air Flight 2216, a Boeing 737-8AS (registered HL8088) returning from Suvarnabhumi Airport in Bangkok, Thailand, experienced a runway excursion at 9:07AM KST (UTC +9) and crashed into an airport perimeter fence at Muan International Airport in Muan County, South Korea.[23] The aircraft skidded down the runway on its belly before striking a reinforced concrete wall and exploding. 4 crew members and all 175 passengers were killed, while 2 crew members survived and were taken to hospital in Seoul.[24] It has been assumed that the accident was due to the bird strike that caused a failure in the deployment of the landing gear, but the exact cause is still under the investigation.[25] It is the deadliest accident on South Korean soil and the deadliest since 1997. Jeju Air's CEO pledged to repair trust and strengthen safety measures in a press conference following the incident.[26]
^"Contact Us." Jeju Air. Retrieved on March 5, 2010. "제주특별자치도 제주시 연동 301–7"
^"Jeju Head OfficeArchived 2011-08-30 at the Wayback Machine." Jeju Air. Retrieved on December 27, 2011. "#301-7, Yeon-dong, Jeju City, Jeju Special Self-Governing Province"
^"[단독]제주항공, 화물 전용기 2호기 도입… 물류 사업 힘준다" [[Exclusive] Jeju Air Introduces Cargo Unit 2... I'm giving you strength in the logistics business] (in Korean). Donga News. 11 May 2023.
