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S. Korea’s Asiana Airlines down 6.4% after crash

/ 11:35 AM July 08, 2013

A sign is posted at the Asiana Airlines ticket counter in the international terminal at San Francisco International Airport on July 7, 2013 in San Francisco, California. AFP

SEOUL – Shares in South Korea’s Asiana Airlines shed 6.4 percent on Monday after one of its passenger jets crashed at San Francisco airport over the weekend, killing two people and leaving 182 injured.

In early afternoon trade the firm’s share price stood at 4,790 won.

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Investigators are looking into the cause of Saturday’s crash that killed two Chinese nationals, including a possible pilot error.

On Sunday,  the Seoul-based carrier’s CEO, Yoon Young-Doo, said “currently we understand that there are no engine or mechanical problems” with the plane, which was bought in 2006.

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Despite the big losses in Asiana’s share price, Hyundai Securities analyst Bae Sung-Young told Dow Jones Newswires the tragedy would unlikely have any long-term effect on South Korea’s second largest airline.

“The limited market impact will likely taper off in one or two days,” he said.

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TAGS: accidents, Asiana Airlines, plane crash, South Korea, Trade
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