Reported 3 days ago
Jeju Air shares plummeted to a record low after a tragic plane crash at Muan International Airport in South Korea resulting in 179 fatalities. The stock dropped 8.5%, reaching a low of 6,920 won, erasing approximately $65.2 million in market capitalization. This marked the first fatal incident for the budget airline since its establishment in 2005. Amidst fears of decreased consumer confidence, emergency safety inspections were ordered by the acting President, while travel agency cancellations surged.
Source: YAHOO