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    Home > Finance > On-site investigation of burned-out Air Busan plane to begin
    Finance

    On-site investigation of burned-out Air Busan plane to begin

    Published by Global Banking & Finance Review®

    Posted on January 31, 2025

    2 min read

    Last updated: January 26, 2026

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    Tags:Transportation Sectorfinancial stabilityrisk managementinsuranceinvestment

    Quick Summary

    Air Busan plane fire at Gimhae Airport led to safe evacuation of all onboard. Investigation begins with international cooperation.

    Investigation Begins for Air Busan Plane Fire at South Korean Airport

    SEOUL (Reuters) - Passengers evacuated from an Air Busan plane that was engulfed in flames this week at a South Korean airport will have their checked baggage returned to them, after authorities on Friday deemed the jet safe for a full investigation.

    All 169 passengers and seven crew members were evacuated from the Airbus A321ceo using emergency slides after the fire broke out on Tuesday, with only a few minor injuries, Air Busan said.

    The fire, which began about 10:15 p.m. (1315 GMT) as the single-aisle jet was preparing for departure to Hong Kong, was first detected by a flight attendant in an overhead luggage bin in the rear left-hand side of the plane, an Air Busan spokesperson told Reuters on Friday.

    Authorities on Friday conducted a risk assessment of the plane, which still had a large amount of fuel and oxygen onboard. The burned-out jet remains on the tarmac at Gimhae International Airport in the southern city of Busan.

    The transport ministry on Friday said the 35,900 lbs (16,280 kg) of jet fuel do not need to be offloaded, and other hazardous materials such as oxygen tanks will be secured. The plane will be covered by a canopy to protect it during the inspection, which will begin on Monday.

    Baggage in the cargo hold was removed on Friday, the ministry said.

    The incident came a month after the deadliest air disaster on South Korean soil, when a Jeju Air plane crashed on Muan Airport's runway as it made an emergency belly landing, killing all but two of the 181 people on board.

    Air Busan's single-aisle 17-year-old plane has burnt out holes along the length of the fuselage roof. Its wings and engines were not burned, a transport ministry statement said.

    South Korea's Aviation and Railway Accident Investigation Board is leading the investigation, and was joined on Thursday by representatives of France's BEA air accident investigation agency. France is the state of design for Airbus planes.

    Budget airline Air Busan is part of South Korea's Asiana Airlines, which in December was acquired by Korean Air.

    Air Busan shares closed down 3.2% on Friday after dropping as much as 6.1%, following a four-day holiday break.

    (Reporting by Lisa Barrington, Jack Kim, Hyonhee Shin, Hyun Young Yi, Jihoon Lee; Editing by Lincoln Feast and Gerry Doyle)

    Key Takeaways

    • •Air Busan plane caught fire at Gimhae International Airport.
    • •All passengers and crew were safely evacuated.
    • •Investigation led by South Korea's Aviation and Railway Accident Investigation Board.
    • •France's BEA agency is involved due to Airbus design.
    • •Air Busan shares dropped following the incident.

    Frequently Asked Questions about On-site investigation of burned-out Air Busan plane to begin

    1What happened to the Air Busan plane?

    An Air Busan plane caught fire at Gimhae International Airport while preparing for departure to Hong Kong. All passengers and crew were safely evacuated with only minor injuries reported.

    2Who is leading the investigation into the incident?

    The South Korea's Aviation and Railway Accident Investigation Board is leading the investigation, with assistance from France's BEA air accident investigation agency.

    3What safety measures are being taken regarding the aircraft?

    Authorities conducted a risk assessment of the plane, determining that the jet fuel does not need to be offloaded and that hazardous materials will be secured.

    4What was the market reaction to the incident?

    Following the incident, Air Busan shares closed down 3.2%, having dropped as much as 6.1% earlier in the day after a four-day holiday break.

    5Were there any injuries reported during the evacuation?

    There were only a few minor injuries reported among the 169 passengers and seven crew members during the evacuation of the burning aircraft.

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