Asiana Shares Drop After Crash Landing

Asiana Airlines shares dropped over 7% in early trade in Seoul, after the San Francisco crash landing.

Asiana’s passengers

According to US investigators, the Boeing 777 was traveling “significantly below” its target speed near the runway and the pilot attempted to abort the landing. The plane carrying 307 passengers came down short of runway, resulting in two people dead and dozens more injured.

Asiana said there were 291 passengers on the plane with 16 members of the flight crew. All of the passengers have been accounted for.

Effect on the company’s reputation

Analysts said the incident might affect Asiana’s profit but only short term.

An aerospace analyst, Chris De Levigne, who works with consulting firm Frost & Sullivan, said any airline that goes through a crash landing does take a hit to its reputation for the meantime. He also pointed out that Asiana may also have to face additional costs in the form of charges from the authorities and possible damage claims from passengers.

Five passengers are reportedly in severe condition at San Francisco General Hospital, said Rachael Kagan, spokers person of the hospital. Three others are being treated at Stanford Hospital. Overall, 181 passengers were brought to hospital, mostly with minor injuries.