FOLLOWING Jeju Air’s announcement of its IPO earlier this month, the South Korean LCC is now aiming to expand its current fleet of 22 to 34 by 2018.
Speaking to TTG Asia e-Daily on the sidelines of CAPA Aviation Asia Summit 2015, Hyuk Park, head of planning at Jeju Air, said: “We have raised 105 billion Korean won (US$91.6 million) from the IPO and we intend to use this to take advantage of the increasing number of Chinese travellers visiting South Korea.”
Jeju Air currently plies 20 international routes, five domestic routes and operates more than 140 flights a day. According to Park, while the carrier has touched down in over 30 Chinese cities, a majority are charters due to the traffic rights limitations in China.
“Approximately 15 per cent of our revenue currently comes from the Chinese market and we hope to continue growing it because of the potential there,” he elaborated.
