Boeing’s stock took a notable hit in premarket trading after a deadly crash involving a Jeju Air Boeing 737-800 over the weekend prompted South Korea to order an emergency inspection of all B737-800 aircraft operated by domestic carriers. The crash, which resulted in the deaths of 179 out of 181 passengers aboard, has raised serious concerns about the safety of this popular aircraft model and prompted a broader examination of airline safety protocols.

The tragic incident occurred on Sunday at South Korea’s Muan International Airport. The aircraft, attempting to land, skidded off the runway after its landing gear failed to deploy correctly, colliding with a concrete wall before bursting into flames. Two crew members were the only survivors, rescued from the wreckage by emergency responders.

In response to the crash, South Korea’s Acting President Choi Sang-mok ordered the Ministry of Land, Infrastructure, and Transport (MOLIT) to carry out a comprehensive safety inspection of the B737-800, focusing on operational records, maintenance procedures, and compliance with safety regulations. MOLIT’s special inspection will examine the aircraft’s maintenance history, as well as ensure that the planes meet the highest operational standards, particularly with respect to landing gear mechanisms and other critical flight systems.

Boeing, which has seen its shares drop more than 3% in early trading, faces increasing pressure as the investigation unfolds. While the exact cause of the crash remains under investigation, officials have confirmed that the aircraft’s pilot reported a “bird strike” shortly before the incident, which could have contributed to the landing gear failure. The incident is still under investigation by South Korea’s Aviation and Railway Accident Investigation Board, with assistance from the U.S. National Transportation Safety Board (NTSB), the Federal Aviation Administration (FAA), and Boeing itself. Preliminary findings have yet to conclusively link the bird strike to the landing gear failure, but the investigation remains ongoing.

The Boeing 737-800, a popular model with low-cost carriers worldwide, has been in service for nearly three decades and predates the troubled 737 Max series. This variant of the narrow-body aircraft has been widely used by South Korean airlines, particularly low-cost carriers like Jeju Air, which operates 39 of these planes. The crash has led to heightened concerns about the fleet’s maintenance standards and operational safety.

Following the tragedy, MOLIT has also called for an inspection of the concrete wall the aircraft hit to assess whether any infrastructure issues may have contributed to the crash. Furthermore, the South Korean government has pointed to bird strikes as a potential cause of the accident, with plans to review and strengthen regulations on managing bird activity at airports. Bird strikes have long been a concern for the aviation industry, and the government’s response signals the seriousness with which it is addressing this risk.

In addition to the ongoing investigation, another Boeing 737-800 operated by Jeju Air experienced technical difficulties on Monday, forcing it to return to Gimpo Airport shortly after takeoff due to issues with its landing gear. This incident further fueled concerns about the safety of the B737-800 model, though Jeju Air has denied that maintenance issues were at fault in either case. The airline’s spokesperson emphasized that the aircraft involved in the crash was maintained to the highest standards and assured the public that the airline’s maintenance procedures were not to blame.

Despite these assurances, Jeju Air’s shares plummeted by 8.65% on Monday, reflecting investor concern over the potential impact of the crash on the airline’s reputation and operations. The airline, which offers affordable air travel across the region, has faced significant financial pressure in the wake of the crash, and its future could be at risk if further safety incidents or regulatory actions emerge.

The crash of Jeju Air Flight 2216 highlights the broader challenges facing the aviation industry, particularly as aircraft models age and safety concerns mount. As more airlines around the world continue to rely on older models such as the B737-800, the incident may prompt more widespread scrutiny of these planes, leading to increased safety inspections and regulatory reforms across the industry.

Boeing, meanwhile, is in contact with Jeju Air and is offering assistance in the investigation. The company has expressed its condolences to the victims and their families, but its stock continues to face volatility in the wake of the crash. With more than 4,000 Boeing 737-800 aircraft in operation globally, the scrutiny placed on this model could have lasting effects on the company’s reputation and financial performance.

This tragedy underscores the importance of maintaining rigorous safety standards within the aviation industry. The ongoing investigations into the cause of the crash and the broader review of B737-800 aircraft could lead to significant changes in how the aviation industry approaches safety, particularly regarding older models and the risks posed by bird strikes. In the meantime, South Korean authorities are taking swift action to address any potential safety gaps, and the broader aviation community is watching closely to see how Boeing and Jeju Air respond to this incident and its aftermath.

(Adapted from TheGuardian.com)