In this article, Boeing shares dropped over 2% on Monday following South Korea’s directive to inspect all 737-800 planes, the model involved in a fatal Jeju Air crash. Acting President Choi Sang-mok instructed the Transport Ministry to conduct an emergency safety inspection of the country’s airline system. The Ministry of Land, Infrastructure, and Transport (MOLIT) officials announced a comprehensive special inspection of the B737-800.
The crash, which claimed 179 lives out of 181 on board, occurred when the plane landed without deploying the correct gear at Muan International Airport, skidding off the runway and crashing into a wall. Only two crew members survived. The pilot mentioned a “bird strike” after a bird activity warning and declared a “Mayday” during a Monday briefing by MOLIT.
Two black boxes from the aircraft are being analyzed, with the U.S. National Transportation Safety Board leading a team of investigators to assist South Korea’s Aviation and Railway Accident Investigation Board. Engine manufacturer CFM International is also involved in the investigation.
MOLIT officials are examining the concrete wall hit by the aircraft and reviewing the 737-800s in South Korean airlines’ fleets. The Boeing 737-800, in operation for nearly three decades, has a strong safety record and is widely used globally. South Korean low-cost carriers, including Jeju Air, operate this model.
MOLIT plans to strengthen regulations related to bird strikes and review operational compliance. Boeing expressed readiness to support Jeju Air and extended condolences to the victims’ families. Another Jeju Air 737-800 aircraft reported landing gear issues after takeoff on Monday.
Jeju Air’s management support office assured support for victims’ families and denied mechanical faults or safety lapses as factors in the crash. Shares of Jeju Air hit an all-time low on Monday.
