Boeing shares fall after plane crashes in India
Shares of planemaker Boeing slid in premarket U.S. trading on Thursday after an Air India aircraft with more than 200 people crashed near the airport in India's western city of Ahmedabad.
The aircraft involved was Boeing 787-8 Dreamliner, according to Flightradar data.
Reuters could not independently verify the make of the aircraft.
It was not immediately clear what caused the crash. Boeing did not immediately respond to a Reuters' request for comment.
The plane was headed to Gatwick airport in the UK, Air India said, while police officers said it crashed in a civilian area near the airport.
Boeing shares fell 7.8% to $197.3 in premarket trading. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Saumyadeb Chakrabarty)
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The National
2 hours ago
- The National
Air India's 787 crash is a 'stress test' for Boeing's turnaround push
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He said Mr Ortberg has made "admirable early progress: stabilising production, restoring FAA [Federal Aviation Administration] dialogue, and championing a cultural shift toward engineering integrity. But now, abstract strategy must meet operational accountability". Regulators, airline customers and the flying public will now all be watching closely how Boeing's leadership handles the latest incident. "His handling of this crisis – how he leads the investigation, communicates transparently, and embeds lessons into Boeing's systems – will either validate or undermine the credibility of the turnaround narrative," Mr Bauer added. No indication of a design flaw Boeing's stock retreated 4.8 per cent on Thursday at the market close. But aviation analysts said there are no indications of a 787 design flaw, given the plane was delivered to Air India in 2014 and had more than 41,000 hours of flying time. "We don't know much about this tragedy so far, but what we do know indicates that it's unlikely to be due to the aircraft itself," Richard Aboulafia, managing director of Washington-based AeroDynamic Advisory, told The National. "With around 1,200 [Dreamliner] aircraft flying, and 16 years of operational experience with no crashes, it's unlikely to be a design issue. This particular aircraft is old enough to say it's unlikely to be a manufacturing issue." Some non-design related explanations may include a bird strike, maintenance error or human error, he added. Recovering the plane's black boxes – the electronic recording devices that store vital flight information – will provide a clearer picture. The crash marks the first accident involving a 787 and little is known about the cause so far. The aircraft crashed in Ahmedabad shortly after take off. 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"Kelly Ortberg is the best CEO they've had in 20 years. They're far from out of the woods, and they still have big challenges, but they're making strong progress," Mr Aboulafia said. These challenges include managing high debt levels and catching up with Airbus on the middle-of-the market jet like the A321 Neo but it will take designing a new jet to do that, he said. 'Precarious' timing The first deadly crash for the 787 since it entered service in 2011 comes as Boeing is trying to recover from two crashes in 2018 and 2019 involving its 737 Max model as well as the Alaska Airlines incident last year.
Zawya
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- Zawya
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Gulf Today
2 hours ago
- Gulf Today
Tata Group announces Rs10 million support for Air India crash victims' families
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