Ahmedabad Air India Plane Crash: Boeing shares plunge nearly 7% in USA pre-market

Business Upturn

a day ago

By Aditya Bhagchandani Published on June 12, 2025, 15:14 IST
Boeing shares dropped sharply in pre-market trading, falling by nearly 7%, following reports of a fatal crash involving an Air India Boeing 787 Dreamliner in Ahmedabad on June 12, 2025. What happened?
Air India flight AI171, a Boeing 787-8 Dreamliner (registration VT-ANB), was en route from Ahmedabad to London Gatwick when it crashed just moments after takeoff from Sardar Vallabhbhai Patel International Airport (SVPIA). The aircraft, which departed at 1:39 PM IST from runway 23, issued a MAYDAY call to Air Traffic Control but failed to respond to further attempts at communication.
According to the Directorate General of Civil Aviation (DGCA), the aircraft fell outside the airport perimeter shortly after takeoff. There were 242 people on board, including 2 pilots and 10 cabin crew members. Captain Sumeet Sabharwal, with 8,200 hours of flight experience, was in command, alongside First Officer Clive Kundar, who had logged 1,100 flight hours. Devastating aftermath
Eyewitness videos and photos show the aircraft engulfed in flames in the Meghani Nagar area near the airport. Thick black smoke billowed over the crash site, hampering rescue operations. The heavy fuel load for the long-haul flight further intensified the post-crash blaze.
Operations at Ahmedabad's SVPIA have been suspended until further notice. Prime Minister Narendra Modi has directed Home Minister Amit Shah and Civil Aviation Minister Ram Mohan Naidu to visit the site and coordinate emergency efforts. Boeing under pressure
This is the first fatal crash involving a Boeing 787 Dreamliner, which had previously maintained a clean safety record since its introduction. The stock price reaction has been swift, with Boeing trading at €173.30 in Europe, down 7.71%. In U.S. pre-market trading, the stock slumped to $199.44 from $214, reflecting investor anxiety. Statement from Air India
Air India Chairman N. Chandrasekaran stated:
'With profound sorrow I confirm that Air India flight AI 171 was involved in a tragic accident today. Our thoughts and deepest condolences are with the families and loved ones of all those affected. Emergency response teams have been activated and support centers are in place.' Investigation underway
The DGCA has launched a full investigation, with Boeing expected to assist Indian authorities in uncovering the cause. Given the severity and visibility of the incident, further impact on Boeing's operations and stock could be expected in the coming days.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.