Air India Boeing 787 Flight Bound for London Crashes After Takeoff
00:00
Sid What can you tell us about the crash? So the airline just confirmed that 242 passengers and crew on board the aircraft and they did confirm that. They haven't yet said how many have survived or what the casualty numbers are. But we did see images of a fairly fiery explosion for the aircraft. And the I mean, we do know that the aircraft was a Boeing 787 aircraft, if this would be the first ever fatal crash for the aircraft. I mean, this aircraft is been in service for over a decade now. And it's it's used by multiple airlines as Boeing's most technologically advanced aircraft that's currently in service. And this would be the first fatal crash for that model we still looking at. We're still waiting to see what the airline or the authorities talk about in terms of what the reason for the crash was. I mean, I think we will know more about it as the days and months go by. But at the moment, it doesn't we don't really have a cause for what happened. We do know that the aircraft climbed to about 625 feet. So shortly after takeoff, this this accident occurred. And we're still waiting on more details for what really went down. And give us some context, said Ahmedabad is in Gujarat region and Air India would be the flag carrier airline. Right. Yeah. So Air India is India's flag carrier and they operate international services to the US, the UK and other destinations around the world. They're in the midst of a massive turnaround under the Tata Group. I mean Tata Group acquired Air India from the government of India and they've placed large orders for 500 plus aircraft. They're revitalizing their fleet, revitalizing their services, adding more destinations. And so this is a massive blow to the carrier, which had sort of ambitions to scale up and target more and more passengers, bring in more passengers to the hubs in New Delhi and Mumbai. And so we are so I mean, this would be a massive blow to Air India's growth plans, as well as to their safety record. But, I mean, at the same time, we still don't know what really went wrong and why this crash occurred. And we're still sort of waiting for more from the government and more from the authorities in terms of what the details of this incident are. All right, Sid, thank you. We're just getting another headline now that it had 169 Indian and 53 British nationals on board.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wall Street Journal
an hour ago
- Wall Street Journal
Heard on the Street Recap: Bond Bulls
The crash of a 787-8 jet in India is a blow to Boeing. (Siddharaj Solanki/EPA/Shutterstock)
Business Insider
an hour ago
- Business Insider
Morgan Stanley Weighs In on Boeing Stock Following Air India Crash
Boeing (NYSE:BA) marked a major milestone last month as the one-billionth passenger flew on its 787 Dreamliner – a big achievement for an aircraft that's only been in service for 14 years. Up until yesterday's tragic Air India crash in Ahmedabad, the 787 Dreamliner had built a strong reputation as a reliable workhorse for long-haul routes with an outstanding safety track record. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter It's important to note that this is a different aircraft from the Boeing 737 Max, which made headlines after the deadly crashes in Indonesia and Ethiopia in 2018 and 2019, claiming hundreds of lives. At this stage, there's no indication that Boeing is at fault for yesterday's incident in India. A clearer picture of what happened is expected to emerge once investigators retrieve the plane's black boxes – the onboard recorders that store critical flight data and cockpit audio. With BA shares taking a beating following the crash, Morgan Stanley analyst Kristine Liwag set out to get an idea of how investors feel about the stock right now. 'While our thoughts remain focused on those affected by the tragedy,' the 5-star analyst said, 'the feedback from investors is considerably less negative than after previous Boeing 737 MAX incidents.' On the positive side, given the strong safety history of the 787, many investors believe the stock's dip is an overreaction, especially as production of the 737 MAX continues to gain momentum. Footage of the incident appears to show a controlled descent, which could suggest that the cause may not be related to a systems failure on the aircraft itself. But the negative take is that incidents like this highlight the stock has a 'higher beta than in previous cycles,' i.e., heightened sensitivity to headlines. Boeing remains 'in the penalty box' due to prior incidents and with a range of pureplay aerospace alternatives available, many would prefer to remain on the sidelines for now. Plenty of questions remain for now. Some observers have noted that the aircraft appeared underpowered during its controlled descent. Investors are asking whether the problem could be related to the engines, maintenance or repair (MRO) issues, or possibly a bird strike. The Air India 787 is equipped with GE Aerospace engines. 'We will continue to monitor developments of the investigation,' Liwag summed up. All in, Liwag assigns an Equal-weight rating (i.e., Neutral) with a $200 price target, suggesting that the stock is fully valued at current levels. (To watch Liwag's track record, click here) While two other analysts also remain on the sidelines, they're outnumbered by 16 who are bullish on the stock. With just one dissenter issuing a Sell, the result is a Strong Buy consensus. Looking ahead, the average price target of $220.95 implies a potential upside of 10.5% over the next year. (See Boeing stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
Yahoo
2 hours ago
- Yahoo
Inside VivaTech: LVMH Spotlights AI and Sustainability at Innovation Awards
PARIS — Bernard Arnault, chairman and chief executive officer of LVMH Moët Hennessy Louis Vuitton, was working his second job Thursday morning, missing the annual Innovation Awards at the VivaTech fair. LVMH's head of communication, image and environment, Antoine Arnault, stepped into his father's shoes to apologize to the crowd and congratulate the winners. More from WWD Magic vs. Logic: Analysts Get Creative and Start to Weigh In on Designer Appointments Louis Vuitton Is the New Official Partner of Real Madrid Shoppers Are Investing in Luxury Handbags Over Stock 'You might have noticed that, on top of his multiple hats, he also became recently a diplomat, and his diplomacy skills made him unable to attend today,' said the younger Arnault of his father's whereabouts. 'But it's nothing more than that, and he's very sad that he couldn't be here,' he added, heading off any speculation at the pass. The winners were selected from LVMH's Maison des Startups and judged on new criteria this year, including the ability to collaborate with brands and capability to scale quickly. Real-time predictive audience segmentation AI Kahoona, partnered with Dior, took the best business prize for its ability to read the 'digital body language' of anonymous site visitors; soil health measurement system Genesis, collaborating with Moët Hennessy, took the Impact Prize; and digital twin 3D AI content creation studio OMI, partnering with Guerlain, took the Most Promising prize. Tiffany & Co. stepped in for the first time to create the trophy, and on stage, representatives from each winning team asked Arnault a question on business leadership. 'You need a little bit of craziness sometimes, and you need to take crazy decisions once in a while,' he said, citing the decision of Bernard Arnault hiring John Galliano to head the house of Christian Dior when he was just a 'young British [designer] with a bit of a bad reputation.' Imparting the lessons he's learned from the luxury business, Arnault said that when Amazon started growing into the shopping behemoth it is today, his father went against the grain and opened bigger, flashier retail spaces to transform shopping into entertainment. 'He tried to prove that you needed temples — not to worship luxury products — but at least to have a great experience, and to go in there and meet people, drink a glass of Champagne, take your time, and then maybe take a crazy decision on buying very expensive products,' he said. After the ceremony, winners were treated to a live engraving of their name on the trophy, Oscars-style. Other heavy hitters made their way to the convention center in the south of Paris, including French President Emmanuel Macron and prime minister François Bayrou. The newly minted superstar speaking slot went to Nvidia CEO Jensen Huang. Overall, this year's programming bid bye-bye to blockchain and adios to AR — the exhibitor and speaker lineup was heavy on companies with an AI angle. However, this is a generational shift and not just another trend, said LVMH chief information officer Franck Le Moal. 'AI and genAI are definitely a strong transformation,' he told WWD. 'It will not be a kind of buzz word, a bit like 'metaverse' was. It's really becoming part of the day-to-day processes' integrated throughout systems across the company, he said. Le Moal said LVMH is supporting its workforce in learning AI as a tool and has created two academies within the conglomerate to educate staff at all levels on a 'new way of working.' He highlighted several use cases being tested at LVMH, including using AI in marketing to adjust content for different countries and social platforms, and using generative AI to create photo-realistic content. The company also renewed its partnership with Google Cloud, focusing on developing new AI, including an internal version of Google's Gemini called MaIA, and is developing AI agents for retail sales and client outreach. AI is already deployed in supply chain forecasting and inventory optimization. 'We can use technology to adjust and make our supply chain even more efficient in a very unpredictable context,' he said, framing production within the current climate and geopolitical challenges. 'We are facing agility, being able to answer very quickly to the context in China, in the U.S., in Europe, being able to adjust our production and distribution.' Kahoona's tech uses what cofounder Gal Rapoport called 'digital body language,' finger size, movements, and signals that can be analyzed by AI to identify and understand the personality of an anonymous shopper. Rapoport said research shows that 96 percent of visitors to a website are anonymous, and only 0.5 to 3 percent of those visitors convert to a sale. Early data demonstrates that the hyper-personalization and segmentation that comes along with personality detection drives engagement up over 10 times. Advertising is now in the hands of the brands, which can create product campaigns or use virtual models that can be ordered up in minutes. Most Promising Prize winner OMI's tech makes a digital twin of any item, which can then be used inside an 'endless photoshoot,' manipulating positioning, light reflecting, and altering ratios for platform compatibility. OMI's rendered images are photorealistic and give the power to the brands to create their own ads and media, be it the design, marketing or e-commerce team — pretty much any team in an organization — with the same 3D model at the core. 'The main advantage is that it's a non-technical skills-related solution,' said OMI product manager Swen Hueber. Without need for an engineer, it significantly reduces ad production costs and time down to a few hours. Elsewhere, brands can now mix-and-match model features, much like shopping online, with AI photo studio Veeton. The start-up's tech can replicate a full photoshoot within two hours, said cofounder and CEO Flore Lestrade. Fashion brands have been working with existing tech like Midjourney to create images, but they can still wander in the uncanny valley. 'That's something fashion brands are actively working on — de-AI-ifying those images,' said Lestrade. Veeton offers a menu of virtual models to select from, adjustable for body types, pose, race, style and age. Users can upload flat pack shots, and the AI will create a look from its dataset of over 50 million fashion images. Subtleties such as facial expressions or posture can be adjusted with prompts to match creative direction without the need for engineers or editors, she said. Veeton has already worked with Showroomprivé and will roll out to more fashion brands and retailers soon. EssilorLuxottica CEO Paul du Saillant and Publicis Groupe Chair Emeritus Maurice Levy took the stage to tout the eyewear maker's partnership between its Ray-Ban brand and Meta to create connected glasses. Du Saillant said Google's attempt at connected glasses didn't work a decade ago because they 'did not address the style element.' Levy said he doesn't go into a meeting these days without wearing a pair of the glasses — which can record video and audio, amplify sound, and alert wearers of emails and text messages in real time. The eyewear company is preparing to 'expand aggressively' and will roll out more styles and possibly partnerships with other brands soon. EBay France general manager Sarah Tayeb and Vestiaire Collective chief impact officer Dounia Wone both addressed the apparent contradiction of using AI, which consumes significant amounts of energy and water, to simplify resale or refurbished goods shopping. Both use tech that can help create and translate listings, as well as assist with search to help nudge consumer behavior. 'We need to take a step back,' said Wone. AI can help these businesses 'grow in an industry that is very much a huge polluting industry,' she said, and help create a circular economy. By adding ease, AI support enables more people to enter the resale ecosystem and has helped double sales of suggested items. 'It's an opportunity, because sustainability tech needs to be aligned with growth,' she said. Sustainability data management platform Sweep works with fashion brands including Burberry, Lacoste, and The Kooples, and beauty brands such as Caudalie, to collect and monitor environmental and carbon data throughout their supply chains, as well as build transition plans. Sweep cofounder and CEO Rachel Delacour emphasized that companies should see sustainability as a key driver of transformation, as it helps break down departmental silos and establishes sustainability as a core business pillar. It's a tricky global moment with the new Trump tariffs upending global trade and the EU potentially rolling back some sustainability reporting regulations, but Delacour said that while fashion brands are becoming more cautious, they aren't abandoning sustainability altogether. 'The fashion brands we are talking with are telling us, 'We can't waste four years of data collection,'' she said. Instead, the uncertainty is acting as an accelerator for companies to make a stronger business case for sustainable supply chains. Regardless of how the regulations play out, both European and U.S.-based companies see sustainability as necessary to future-proofing their businesses. 'It has actually accelerated the sustainability understanding and how they must engage with their value chain and [demonstrate] the ROI of all this for the CEO and the board members,' she said. 'There are finite resources on this planet. There will be winners and losers. The ones who are not able to transition to a low carbon economy in their business and in their value chain, they won't be here in the next 10 years.' Best of WWD Retailers Leverage First Insight for ESG Alignment What Steph Curry's Sneaker NFTs Can Teach Fashion Year in Review: Brands, Retailers Go Hyper-digital in a Challenging Landscape Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
