Boeing's stock price fell sharply Monday following South Korea's decision to inspect all B737-800 aircraft after a fatal crash involving Jeju Air. The incident killed 179 people out of 181 on board. The South Korean government has initiated an emergency safety inspection of its entire airline system, specifically targeting the B737-800 model.
Boeing shares dropped nearly 5% in premarket trading Monday, after South Korea ordered an inspection of all B737-800 planes, the model involved in a deadly Jeju Air crash over the weekend.
, while officials at the Ministry of Land, Infrastructure, and Transport said they would conduct a"comprehensive special inspection of the B737-800." Two black boxes were retrieved from the aircraft and have been sent for analysis. The U.S. National Transportation Safety Board is meanwhile leading a team of U.S. investigators, including the Federal Aviation Administration and Boeing, to assist South Korea's Aviation and Railway Accident Investigation Board with a probe into the crash.
"We plan to review strengthening regulations regarding bird strikes, identified as a potential cause of the accident, especially for new airports under construction."
BOEING AIRPLANE CRASH SOUTH KOREA B737-800 AVIATION SAFETY
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