Shares of Boeing slide after South Korea plane crash killing 179

Key Takeaways:

Boeing Shares Drop: Boeing's stock fell more than 4% in early trading on Monday after a fatal crash involving a Boeing 737-800 operated by Jeju Air in South Korea.

Deadly Crash: The incident, which occurred on Sunday, resulted in the deaths of 179 out of the 181 people on board, making it the deadliest plane crash in South Korea in decades. Only two crew members survived.

Investigation Launched: South Korea's transportation ministry announced a full investigation into the crash and will inspect all Boeing 737-800 aircraft in use in the country.

Boeing's Response: Boeing has established communication with Jeju Air and expressed condolences to the families of the victims. The company is ready to support the investigation.

Jeju Air's Decision: Jeju Air has decided not to suspend the operations of its 737-800 aircraft but will conduct thorough inspections.

Crash Details: The crash occurred as the plane was landing at Muan International Airport. A warning of a possible bird strike was issued minutes before the crash, and the pilot sent a distress signal.

Ongoing Challenges for Boeing: This crash adds to Boeing's recent struggles, including labor disputes, mechanical issues with the Starliner spacecraft, and past incidents involving the 737 Max aircraft.