Jeju Air is experiencing a surge in cancellations following the tragic crash of Flight 2216, which claimed the lives of 179 passengers in South Korea’s worst aviation disaster. The Boeing 737-800, en route from Thailand to South Korea, issued a mayday call before crash-landing and bursting into flames in Muan on Sunday. Only two flight attendants survived.
According to an AFP report, since the incident, nearly 68,000 tickets have been canceled, with domestic and international flights seeing roughly equal cancellations. Despite the cancellations, Jeju Air noted a steady inflow of new bookings, describing the cancellation rate as “slightly higher than usual.”
Major travel agencies have also reported widespread cancellations, with travelers expressing safety concerns, particularly over the Boeing 737-800 model involved in the crash. On Monday, another Jeju Air flight had to return to Seoul due to a landing gear issue, heightening public anxiety.
The crash and subsequent cancellations have significantly impacted Jeju Air’s financial standing, with shares dropping 15% on Monday. Shares of its largest stakeholder, AK Holdings Inc., also fell by over 12%, while several domestic tour agency stocks dipped by more than 5%.
