Boeing shares fall 4.2 per cent after deadly Air India plane crash in Ahmedabad
The crash of an Air India 787-8 Dreamliner jet minutes after taking off on Thursday led to Boeing shares falling about 4.2 per cent on Thursday reported Reuters.
Shares of Spirit AeroSystems, a key supplier, and GE Aerospace, which makes engines for the jet, also fell about 2 per cent each.
Also Read: Air India plane crash: CCTV footage shows bone-chilling video of fatal incident
The deadly crash, which has led to 241 confirmed deaths out of the 242 passengers, comes ahead of the Paris Air Show next week where Boeing would participate.
The crash, which is one of the worst in aviation history has damaged Boeing's reputation further, after its planes were involved in several other crashes this year.
Also Read: Moments of terror: Locals run for cover after Air India flight crash in Ahmedabad
Boeing has been involved in three high-profile accidents involving the 737 MAX aircraft in recent years, including two fatal crashes.
The Air India plane that crashed in the city of Ahmedabad is more than a decade old.
Also Read: Donald Trump breaks silence on Ahmedabad plane crash, says Air India accident 'worst in aviation history'
It first flew in late 2013 and was delivered to Air India in January 2014. Since then, it accumulated more than 41,000 flight hours, including 420 hours during 58 flights in May and 165 hours during 21 flights in June, according to Cirium, an aviation data analytics firm.
The widebody 787 planes, one of the most modern passenger aircraft in service, have never had a fatal crash until the Air India incident. They were grounded in 2013 due to battery issues, but no one was reported injured.
Boeing as well as the airline Air India have stated that they will fully cooperate with an investigation into the cause of the crash.
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