Boeing shares fell over 3% in premarket trading on Monday after South Korea ordered an emergency inspection of all 737-800 planes operated by domestic carriers.
This follows a deadly crash involving a Jeju Air flight over the weekend.
South Korea’s Transport Ministry has been directed to inspect the entire airline operation system, with a specific focus on the Boeing 737-800 model by the Ministry of Land, Infrastructure, and Transport.
Boeing’s New York-listed shares dropped 4.7% in premarket trading before recovering slightly to trade about 3% lower by early Monday morning.
The crash, which occurred on Sunday, killed 179 of the 181 people on board. The plane, a Boeing 737-800, landed at South Korea’s Muan International Airport with its gear not deployed, skidded off the runway, hit a wall, and caught fire.
The two survivors were crew members who were rescued from the wreckage.
Investigations are ongoing to determine the exact cause of the crash.
In a Monday briefing, the Ministry of Land, Infrastructure, and Transport revealed that the aircraft’s pilot reported a “bird strike” a few minutes after the control tower issued a bird activity warning.
The pilot also informed the control tower of a “go-around,” indicating an aborted landing attempt, and declared a “Mayday” distress signal.
Yu Kyung-soo, MOLIT’s director of aviation safety policy, provided these details during the briefing, according to an NBC News translation.
Two black boxes were recovered from the crashed aircraft and have been sent for analysis to help determine the cause of the incident.
