South Korea’s Jeju Air has reduced an order placed with Boeing in 2018 for 737 MAX 8 aircraft, blaming external environmental factors for the decision.
On June 9, 2026, Jeju Air submitted a filing to DART (Data Analysis, Retrieval and Transfer System) advising that its initial order for 40 Boeing 737 MAX 8 aircraft had been reduced to 32.
An option for 10 more aircraft negotiated between Boeing and Jeju Air in 2018 remains in place.
The filing confirmed that Jeju Air originally paid $4.4 billion for the MAX aircraft but that has now been revised to $3.5 billion
According to local media in South Korea, Jeju Air said that a decision was made to prioritize financial stability with many factors currently destabilizing the aviation industry.
First 737-8 of @flyjejuair's order of 40 rolled out of paint tonight at @FlyRenton. LN 8693/ HL8523 @FleetKorean pic.twitter.com/Faibicm7TU
— BFI Watch (@bfi_watch_ca350) July 18, 2023
Completion of the fleet delivery was also cited as a reason after it was recently extended to 2018 from 2017, according to Seoul Finance.
According to ch-aviation, Jeju Air has so far received 12 Boeing 737 MAXs since placing its order eight years ago. The carrier had initially expected to induct the type into service before the end of 2022.
Jeju Air’s first 737-8 MAX was delivered in 2023, following delays caused by the COVID-19 pandemic.