Jeju Air Co., Ltd. (Korean: 제주항공; Hanja: 濟州航空), is the first and largest South Korean low-cost airline. It offers scheduled domestic services between several cities in South Korea, as well as between Seoul and international destinations including Japan, China, Russia, the Mariana Islands, and various Southeast Asian countries. It is also a founding member of the Value Alliance. Jeju Air is named after the Jeju Island.
The airline, a member of AK group, has opened a Seoul head office tower hotel at Hongik station of the Seoul Metro, to diversify income.
In 2018, Jeju Air carried 7.3 million international passengers along with 4.7 million domestic passengers. It domestic traffic has been relatively flat since 2016 as it has focused almost entirely on international expansion.
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. 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.
On August 12, 2007, Jeju Air Flight 502 had performed a runway overshoot at Gimhae International Airport. All 74 passengers and 5 crews survived, but 6 passengers suffered minor injuries. Jeju Air Flight 502 is the first and the only incident of Jeju Air.