Boeing shares fall after South Korea requires investigation into 737-800 planes

Boeing Stock have been down Monday morning after South Korea introduced it was opening an investigation into the nation’s flight operations following the deadliest airplane crash within the nation’s historical past, involving a Boeing jet.

Appearing South Korean President Choi Sang-mok introduced the opening of an investigation on Monday, and the nation’s Transportation Ministry stated a particular inspection of 101 Boeing 737-800s operated by South Korean airliners would start at this time – there, specializing in the upkeep file of key elements.

A emblem is seen on the Boeing stand on the opening day of the 2024 Farnborough Worldwide Airshow, southwest London, July 22, 2024. (JUSTIN TALLIS/AFP through Getty Photographs / Getty Photographs)

Boeing shares fell greater than 4% in early buying and selling following Monday morning’s announcement, earlier than recovering to stay down 2.3% at round $176.52 per share as of 11:30 a.m. ET.

Boeing declined to touch upon the investigation, referring FOX Enterprise to the Ministry of Land, Infrastructure and Transportation (MOLIT) of the Republic of Korea.

Aviation expert casts doubt on bird strike theory in fatal S. Korea plane crash: ‘It doesn’t make sense’

THE The United States also declared On Monday, it despatched investigators to assist decide the reason for the crash the day earlier than at South Korea’s Muan Worldwide Airport, leaving solely two survivors out of 181 on board when a Jeju Air flight crashed. skidded off the monitor and crashed right into a concrete fence.

Firefighters seek for the lacking and recuperate the deceased on the scene of an accident close to Muan Worldwide Airport in Jeollanam-do, South Korea, December 29, 2024, the place a Jeju Air airliner crashed collision throughout touchdown. (Chris Jung/NurPhoto through Getty Photographs / Getty Photographs)

Footage from the incident reveals the 15-year-old Boeing 737-800 sliding down the runway on his stomach after his touchdown gear did not deploy.

SOUTH KOREA PLANE’S LAST MOMENTS CAPTURED ON VIDEO BEFORE SHIKING INTO concrete barrier, triggering explosion

The Boeing 737-800 is a unique mannequin from the plane maker’s 737 Max, which has come below scrutiny over the previous 12 months after a door panel blew off a 737 Max airplane in flight on January 5.

A sheet of plastic covers an space of ​​the fuselage of the Alaska Airways Boeing 737 Max 9 airplane outdoors a hangar at Portland Worldwide Airport January 8, 2024, in Portland, Oregon. (Photograph by Mathieu Lewis-Rolland/Getty Photographs / Getty Photographs)

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The corporate has lurched from disaster to disaster all through 2024. Since its 737 Max’s door flew off, the CEO left, its manufacturing slowed as regulators investigated its security tradition and the corporate carried out a sequence of layoffs.

Taylor Penley of Reuters and FOX Information contributed to this report.