Following Sunday’s catastrophe claiming 179 lives, South Korea declared its intentions to look at each Boeing 737-800 plane flown by native airways. It marked the best aviation catastrophe the nation has skilled in many years. Consequently, Monday’s premarket commerce for Boeing (NYSE:BA) shares dropped 5%. Jeju Air operated a Boeing 737-800 that crashed. In keeping with preliminary accounts, the jet turned off its first touchdown try for causes unknown. The pilot despatched a misery sign following a fowl strike warning throughout a second strive. Overshot the runway, landed with out the entrance touchdown gear deployed, ran throughout a concrete fence, and burst into flames. The incident has spurred a more in-depth examination of South Korea’s aviation security insurance policies.
Monday, Performing President Choi Sang-mok assembled a process group to information officers in reviewing the plane operation methods of the nation and enhancing security measures. “Our first focus ought to be stopping like occasions and strengthening a safer Republic of South Korea,” Choi added. The crash additionally revealed difficulties in authorities disaster administration inside political unrest following the impeachment of Prime Minister Han Duck-soo and President Yoon Suk Yeol. The precise reason behind the incidence is beneath investigation.
This text first appeared on GuruFocus.
