A recent plane crash involving Jeju Air Flight 2216 has led to a wave of trip cancellations in South Korea. Here are the key points:
1. Crash Details: The Jeju Air Boeing 737-800 crashed at Muan, killing 179 people on board.
2. Cancellation Numbers: Jeju Air reported approximately 68,000 canceled flight tickets, with 33,000 domestic and 34,000 international cancellations.
3. Travel Anxiety: Major travel agencies reported mass cancellations due to crash-related travel anxiety, with one agency receiving over 400 cancellations in the first hour of operation.
4. Flight Safety Concerns: Passengers are expressing concerns about flight safety, with 21 passengers choosing not to board an alternate flight after a landing gear problem was reported.
5. Market Impact: Jeju Air shares fell as much as 15%, while shares of AK Holdings Inc, the biggest stakeholder of Jeju Air, fell over 12%.
6. Second Incident: A second Jeju Air flight suffered a landing problem, further fueling concerns about the airline’s safety record.
Source: Vanguard
