Boeing Stock Rises Premarket Despite Fuel Switch Checks Planned By South Korea: Air India CEO Says Probe 'Far From Over'

The South Korean government is preparing an order, asking all domestic airlines operating Boeing Co. BA aircraft to conduct checks on fuel switches after last month's 787 Dreamliner crash in the Indian city of Ahmedabad.

Check out the current price of BA stock here.

What Happened: The checks come in line with a 2019 advisory issued by the U.S. FAA on the aircraft fuel switches, a spokesperson for the government cited by Reuters said on Monday.

Air India CEO Campbell Wilson reiterated that the probe into last month's accident was "far from over" and advised people from "drawing premature conclusions," in an internal memo obtained by Reuters on Monday.

"The release of the preliminary report marked the point at which we, along with the world, began receiving additional details about what took place. Unsurprisingly, it provided both greater clarity and opened additional questions," the internal memo said.

The memo also said that preliminary reports showcase no mechanical or maintenance issues with the aircraft. The report does not suggest immediate action for Boeing's aircraft.

Why It Matters: The news comes as Boeing experienced an almost 2% surge in Premarket trading on Monday after the FAA said the fuel switches on the aerospace giant's aircraft are safe.

The preliminary report of the Air India flight crash suggests that fuel supply to the engines was abruptly cut off moments after takeoff, which could be a contributing factor to the crash.

President Donald Trump's pick for the FAA administrator job, Bryan Bedford, was confirmed by the Senate, amid criticism from Sen. Chuck Schumer (D-N.Y.), who claimed that the Republican party was prioritizing profits over the safety of passengers.