Jeju Air is ordering three Next-Generation 737-800s from Boeing, valued at nearly $300 million.
The purchase will become the airline's first direct-purchased airplanes from Boeing and fuel the airline's continued expansion within Asia's rapidly growing air travel market.
"This acquisition is a major step in our growth strategy," Jeju Air CEO Ken Choi said. "We are confident that this order will enable Jeju Air to further strengthen our position as a leading low-cost carrier in Northeast Asia."
Jeju Air, based in South Korea, was established as Korea's first low-cost carrier in 2005 and launched operations in 2006. The carrier currently serves 40 domestic and international routes with approximately 150 daily flights.
The 737-800 is the best-selling version of the highly successful Next-Generation 737 family, which is the world's most popular airplane.
"This order is a testament of the market-leading efficiency, reliability and passenger comfort of the 737," Ihssane Mounir, senior vice president of Global Sales and Marketing for Boeing Commercial Airplanes said. "We look forward to introducing additional 737s to Jeju Air's expanding fleet."