An Asiana Airlines Boeing 777 crash-landed at San Francisco airport on Saturday as it approached the runway ‘significantly below’ its target speed and failed to make it all the way to safety. The plane, piloted by Lee Kang-kook, was sheared into several pieces with its landing gear missing as it touched down on the runway.
The crash, which killed two people and resulted in over 160 injuries, has resulted in a severe reduction of Asiana’s share price. The Korean airline’s shares fell more than seven percent in trading this morning on the Seoul Stock Exchange as investors took a look at the effects the crash could have on the airline’s long-term income.
Business analysts claim that the crash could have serious effects on the airline’s long and short-term income, with the televised coverage reducing the value of the Asiana Airlines brand in North America. The Korean carrier is one of several airlines with a direct route between the capital of Seoul and several North American cities.
The airline also faces the potential for lawsuits from passengers injured during the crash, as well as fines from US air travel regulators. Five passengers remain in San Francisco General Hospital’s intensive care ward, while over 181 were treated for less serious injuries.
The pilots involved in the crash were ‘experienced veterans’ according to the airline, with extensive training on the Boeing 777 aircraft. The airline has stated that it will investigate the cause of the crash and, if it turns out to be human error, implement a number of new safety policies to ensure that it never happens again.
The incident is the second recorded Boeing 777 crash. The first crash took place in 2008, when a British Airways Boeing 777 also failed to reach the runway during its descent into London’s Heathrow Airport.
