Shares in Boeing Co (NYSE:BA, ETR:BCO) took a sharp 4.5% dive in pre-market trading on Monday, following a devastating crash involving one of its aircraft in South Korea. The tragic accident occurred on Sunday, resulting in the deaths of 179 people, and now authorities are calling for an urgent review of Boeing 737-800 planes.

South Korean Government to Audit Boeing 737-800 Fleet

In response to the crash, the South Korean government has announced plans to inspect all 101 Boeing 737-800 aircraft currently in operation within the country. The investigation will focus on potential technical failures, including a suspected landing gear malfunction. US investigators, including representatives from Boeing, are expected to join the probe. The incident, which occurred at Muan International Airport, was captured on video showing the plane skidding down the runway, raising concerns over possible mechanical issues.

Boeing Faces Ongoing Scrutiny and Legal Challenges

This latest incident adds to a string of challenges Boeing has faced throughout the year. Earlier in January, a door panel fell off one of its jets mid-flight, sparking further concerns about the company’s quality control processes. Additionally, Boeing recently instructed airline operators to inspect flight deck switches after a near-disastrous mid-air dive involving a LATAM Airlines-operated 787 Dreamliner.

Legal Fallout from 737 MAX Crashes Continues

Boeing is also still grappling with the legal aftermath of the 2018 and 2019 737 MAX crashes. A US judge recently rejected a plea deal in which Boeing had agreed to plead guilty to charges related to software flaws, inadequate pilot training, and lapses in regulatory oversight that contributed to two fatal crashes, resulting in 346 deaths and the global grounding of the 737 MAX fleet.

Stock Drops Amid Growing Concerns

As a result of the ongoing scrutiny and these latest setbacks, Boeing’s stock is set to open at $172.65, down from $180.72 at the close of last week. The continued turbulence for Boeing underscores the mounting challenges the company faces as it works to regain both consumer and investor confidence.

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