Boeing shares plunge nearly 5% after South Korea orders probe following deadly B737-800 crash

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Posted on 12/30/2024 8:36:28 AM PST by DFG

Boeing shares fell 4.5% Monday morning after South Korean officials ordered an inspection of the plane model involved in the deadly Jeju Air crash over the weekend.

Acting President Choi Sang-mok instructed the Transport Ministry to launch an emergency inspection of the country’s entire airline operations. Officials at the Ministry of Land, Infrastructure and Transport (MOLIT) said they would inspect all B737-800 planes, the model involved in the crash.

On Sunday morning, the commercial plane skidded off the runway, crashed into a wall and burst into flames while landing at Muan International Airport – killing all but two of its 181 passengers. The two survivors were plane crew members who were pulled from the flaming wreckage, suffering severe injuries, according to officials.

The exact cause behind the crash is unclear. The jet crash-landed without the correct landing gear after the pilot alerted the control tower of a “bird strike,” flagged an aborted landing attempt and declared “Mayday,” according to Yu Kyung-soo, director of aviation safety at MOLIT, per an NBC News translation.

“Jeju Air deeply bows in apology to all those affected by the Muan Airport accident,” the airline wrote in an Instagram post. “Our first priority is to do everything possible to manage this incident. We sincerely apologize for causing concern.”

The US National Transportation Safety Board is aiding South Korea’s aviation investigation team with a probe into the cause of the crash, along with aircraft engine manufacturer CFM International. Two black boxes retrieved from the plane wreckage have been sent for analysis.

(Excerpt) Read more at nypost.com ...

1 posted on 12/30/2024 8:36:28 AM PST by DFG

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