Jeju Air’s Problems Mount After Crash of Flight 7C2216

Published On Jan 5, 2025, 12:01 AM

Jeju Air, South Korea's largest low-cost airline, is facing significant challenges following a recent crash that killed 179 people. The airline, which was already in economic distress with heavy debt and stock prices near record lows, is under investigation by government authorities. The CEO is prohibited from leaving the country as scrutiny increases around the airline's operations and maintenance practices. In response to the disaster, Jeju Air is cutting 15% of its flights temporarily, leading to further cancellations from passengers and a decline in stock value by 10% since the incident.