South Korean airline Jeju Air is canceling tens of thousands of flights after the deadly crash of one of its Boeing 737-800s which killed 179 people on Sunday. The company’s stock is plummeting on the stock market. The authorities are closely examining other devices of the same model…
An unprecedented wave of cancellations. This is what the South Korean airline Jeju Air is facing the day after the crash of one of its Boeing 737-800s on Sunday in the southwest of the country. The toll was heavy: 179 passengers killed out of the 181 on board. Only a flight attendant and a steward survived. The tragedy, the worst on South Korean soil, plunges the low-cost carrier into turmoil.
68,000 flights canceled in less than 24 hours
The day after the tragedy, the bleeding began. According to an internal Jeju Air source, as many as 68,000 flights were canceled between midnight Sunday and 1 p.m. Monday. A staggering figure which concerns both domestic and international connections, in a proportion of approximately 50/50. The cancellation rate slightly exceeds that usually observed, even if new reservations remain stable according to the company.
Passengers flee the Boeing 737-800
Fear gripped the passengers. Many are asking if they will travel on a Boeing 737-800, the model involved in the accident, and canceling their flight if so. A large number of travel agencies are also reporting cascading cancellations. One of the largest in the country reports at least 400 cancellations from the first hour of opening Monday morning.
Collision with birds, suspected cause
What happened on Sunday? According to authorities, the plane hit some birds before attempting an emergency landing. But at the end of the track, it hit a wall and caught fire, leaving the occupants with almost no chance. And the fears are not about to subside. On Monday morning, another Jeju Air Boeing 737-800 encountered a problem with its landing gear, already blamed the day before.
Jeju Air stock unscrews, general inspection of 737s
On the stock market, Jeju Air shares fell 15% on Monday. Its main shareholder, AK Holdings, lost 12%. Many South Korean tour operators are losing more than 5%. Faced with the concern, the authorities responded by launching a comprehensive inspection of all Boeing 737-800s used in the country. Safety first, even if the South Korean sky risks slowing down in the coming days.
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