On January 28, 2021, a final report was released by the STSB which stated that "the pilots' high-risk flying was a direct cause of the accident". It further stated that "The flight crew piloted the aircraft, at low altitude, with no possibility of an alternative flight path and at an air speed that was dangerously low for the circumstances. The high-risk manner of flying through these not unusual turbulences caused the pilot to lose control of the aircraft. The aircraft was also being operated with its centre of gravity in excess of its rear limit". The STSB found that the aircraft was not in an airworthy condition when it took off on the accident flight, in that the engines had not been properly maintained and were not producing rated power. Furthermore the report indicated that the company had a poor safety culture that tolerated risky behaviour and rule breaking.

Around 10 minutes before the crash, another witness had observed the Ju 52 suddenly banking sharply to the left and losing altitude, before increasing engine power and recovering to normal flight.

Following a review in March 2019, while the accident investigation was still ongoing, the FOCA banned Ju-Air from conducting commercial passenger flights with Ju 52s, allowing only private flights for club members. Later, the operating and maintenance licenses were revoked for the other Swiss-based Ju 52 aircraft, effectively grounding the HB-HOP and HB-HOS sister aircraft. Due to the maintenance troubles found in the HB-HOT wreck - like fatigue cracks, corrosion and sub-standard repair work - the FOCA deemed them unsafe to fly.