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Jeju Air Achieves Rapid Growth in 8 Years
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According to Yonhap News,

Jeju Air Co., South Korea's largest budget carrier, vowed Monday to become the top low-cost carrier in Northeast Asia, noting it has grown very rapidly over the past eight years.

The carrier said it handles 11,200 domestic and international passengers a day on average, up from about 200 in 2006 when it started the business with a single turboprop aircraft. The company is based out of South Korea's southern resort island of Jeju.

The airline, set up by the Jeju provincial government and South Korea's Aekyung Co. in 2005, has now 12 Boeing 737-800 passenger jets and offers regular flights to 15 destinations in Japan, China, Hong Kong, the Philippines, Vietnam, Thailand and Guam.

The carrier trailed the country's two major full-service carriers, Korean Air Lines Co. and Asiana Airlines Inc, in domestic passenger traffic with 12.4 percent.

Its share in international passenger traffic increased to 4 percent in the third quarter of 2012, up 3 percent from a year earlier.
Besides Jeju Air, South Korea has four other budget carriers, including Air Busan Co. and Jin Air Co. and T'way Airlines.

Source Text

Source: Yonhap News (Jan. 21, 2013)