Boeing shares plunge over 8% after Air India Dreamliner crash in Ahmedabad
Shares of US aircraft manufacturer Boeing fell sharply—over 8% in pre-market trading on Thursday—after a London-bound Air India flight crashed in Ahmedabad, Gujarat. The aircraft involved was a Boeing 787-8 Dreamliner.
At the time of reporting, Boeing's share price had dropped 8.05% to $196.78 in pre-open trade, marking its third consecutive session of losses. This decline follows Wednesday's 0.8% dip, when the stock closed at $214. Despite this recent fall, Boeing shares had gained around 24% in the past three months. Meanwhile, Boeing shares listed on the German exchange were also down by 8.5%, trading at €169.94.
The crash involved Air India flight AI 171, which was en route to London and had 244 people on board. The aircraft crashed shortly after takeoff from Ahmedabad airport around 2 pm. According to the Directorate General of Civil Aviation (DGCA), the pilot issued a Mayday call, but no further communication was received thereafter. Several casualties are feared.
In a statement, Boeing said: 'We are aware of initial reports and are working to gather more information.'
The Boeing 787 is known for its solid safety track record, with no prior fatal crashes. Although battery-related issues once grounded the fleet, those incidents did not result in injuries.
India's Civil Aviation Minister Ram Mohan Naidu Kinjarapu expressed deep sorrow and said he was personally monitoring the rescue operations. 'Rescue teams are being mobilised and all emergency support is being rushed to the crash site,' he said.
More details are awaited as investigation teams and emergency services continue to assess the situation.
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