Boeing Shares Tumble Following Air India Plane Crash
Shares of U.S. aerospace giant Boeing fell sharply on Thursday following the crash of an Air India aircraft shortly after takeoff from Ahmedabad, India.
The aircraft, identified as a Boeing 787-8 Dreamliner, was en route to London's Gatwick Airport when it went down near a civilian area shortly after departure. The incident has reignited safety concerns and added pressure on Boeing, which is already navigating efforts to restore public confidence and ramp up production under new CEO Kelly Orthberg.
In premarket trading, Boeing shares slid 8% to $196.52. Analysts say the drop reflects renewed investor anxiety surrounding the company's safety record.
The cause of the crash has not yet been determined. Boeing stated it is aware of the reports and is working to gather more details.
The crash adds to a string of challenges for the aircraft manufacturer, which is striving to turn the page on several years of scrutiny over its safety standards and regulatory compliance.
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