Boeing stock dips following South Korea's inspection order on 737-800 planes

Investing.com -- Shares of Boeing (NYSE:BA ) are trading lower in premarket on Monday, following the decision by South Korea to launch an inspection of all 737-800 aircraft. This model was involved in a fatal crash with Jeju Air over the weekend.

South Korea's Acting President, Choi Sang-mok, has instructed the transport ministry to conduct an emergency safety examination of the nation's entire airline operational system. In addition, officials from the Ministry of Land, Infrastructure, and Transport (MOLIT) have stated their intention to perform a comprehensive special inspection on the B737-800.

The exact details surrounding the crash, which claimed the lives of 179 out of the 181 people aboard the flight on Sunday, remain unclear. The aircraft landed without the appropriate gear at South Korea's Muan International Airport, veered off the runway, and crashed into a wall before catching fire. The only survivors were two crew members who were rescued from the wreckage.

During a briefing on Monday, MOLIT disclosed that the pilot of the aircraft had reported a "bird strike" a few minutes after the airport's control tower issued a warning for bird activity. The pilot also informed the control tower about a "go-around," which refers to a cancelled landing attempt, and declared "Mayday," as stated by Yu Kyung-soo, director of aviation safety policy at MOLIT, according to an NBC News Translation.

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Source: Investing.com