Home Business News South Korea Initiates Inspection of B737-800, Impacting Boeing Shares

South Korea Initiates Inspection of B737-800, Impacting Boeing Shares

by Biz Recap Team
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Boeing Falls As South Korea Orders Inspection Of B737 800 Aircraft

On December 30, 2024, Jeju Air Flight 2216 crashed while landing at Muan International Airport in South Korea, resulting in the deaths of 179 of the 181 passengers and crew on board. The aircraft, a Boeing 737-800, landed without essential equipment, veered off the runway, collided with a wall, and subsequently caught fire. Only two crew members survived the incident.

In the aftermath of the crash, South Korean authorities mandated inspections of all Boeing 737-800 planes operated by domestic airlines, reflecting heightened safety concerns. Acting President Choi Sang-mok directed the Ministry of Transport to initiate a comprehensive inspection of the air navigation system and all aircraft of this model.

Prior to the crash, the pilot reported a potential bird strike and requested a go-around, which indicates an aborted landing attempt. The situation is under investigation by South Korea’s Air and Railroad Accident Investigation Commission, with support from a U.S. investigation team, including the National Transportation Safety Board and Boeing. Two black boxes recovered from the wreckage will be analyzed to provide insights into the crash.

Ministry officials are exploring various factors, including the possible influence of the concrete wall the aircraft struck. While the Boeing 737-800 has a solid safety record, this incident has prompted discussions about tightening regulations concerning bird strikes, particularly at new airport facilities.

Reports also surfaced of another Jeju Air 737-800 experiencing landing gear issues shortly after the crash incident. Jeju Air’s leadership confirmed that the airline would assist the victims’ families and noted that the aircraft was insured for $1 billion. Despite the company’s assertion that mechanical failure was not a factor in the crash, Jeju Air’s stock plummeted, closing down significantly following the incident.

As investigations continue, the airline and regulatory bodies are committed to understanding the circumstances surrounding this tragic event to ensure the safety of air travel.

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