Latest news with #KellyOrthberg
Observer
a day ago
- Business
- Observer
Boeing shares fall 8 pc after AI plane crashes
Shares of planemaker Boeing fell 8 per cent in premarket US trading on Thursday after an Air India aircraft with 242 people crashed minutes after taking off from India's western city of Ahmedabad. Aviation tracking site Flightradar24 said the plane was a Boeing 787-8 Dreamliner, one of the most modern passenger aircraft in service. 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, without specifying whether there were any fatalities. It was not immediately clear what caused the crash. Boeing said in a statement it was aware of initial reports and was working to gather more information. The news comes as the planemaker tries to rebuild trust related to safety in its jets and ramp up production under new Chief Executive Officer Kelly Orthberg. Boeing's shares were down about 8 per cent at $196.52 in premarket trading. "It's a knee-jerk reaction (to the incident) and there's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years," said Chris Beauchamp, analyst at IG Group. — Reuters
Globe and Mail
2 days ago
- Business
- Globe and Mail
Boeing shares fall 5% after Air India Dreamliner jet crashes, killing more than 200
Boeing Co.'s BA-N shares fell 5 per cent on Thursday after an Air India 787-8 Dreamliner jet crashed minutes after taking off, posing a major setback for the plane maker as its new CEO looks to rebuild trust following a series of safety and production challenges. All 242 people on board the London-bound plane were killed in the crash in the western city of Ahmedabad, authorities said, in the world's worst aviation disaster in a decade. It was not immediately clear what caused the crash. Boeing said in a statement it was aware of initial reports and was working to gather more information. The fatal crash tarnishes the Dreamliner jet's safety record and muddies CEO Kelly Orthberg efforts to ramp up production as the airplane maker scored a flurry of new orders and hit production targets in May, heading into the Paris air show. 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, however, has faced years of scrutiny and delays over its narrowbody 737 MAX jets, which were grounded for years following two fatal crashes. Last year, the U.S. plane maker came under renewed scrutiny after a door plug blew off a 737 MAX 9 mid-flight, prompting a temporary FAA grounding and fresh concerns over quality control. Shares of Spirit AeroSystems Holdings Inc. SPR-N, a key supplier, and GE Aerospace GE-N, which makes engines for the jet, also fell about 3 per cent each. GE Aerospace said in a post on X that it had activated its emergency response team and would support the investigation, but did not specify if the Air India aircraft was equipped with its engines. The engine maker did not immediately respond to a Reuters request for comment. Boeing shares were trading at $196.75 after falling as much as 8 per cent before the opening bell. 'It's a knee-jerk reaction [to the incident] and there's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years,' said Chris Beauchamp, analyst at IG Group.
New York Post
2 days ago
- Business
- New York Post
Boeing stock plummets after Air India crash, dealing major setback as new leadership tries to rebuild trust
Boeing's shares fell 5% on Thursday after an Air India 787-8 Dreamliner jet crashed minutes after taking off, posing a major setback for the planemaker as its new CEO looks to rebuild trust following a series of safety and production challenges. All 242 people on board the London-bound plane were killed in the crash in the western city of Ahmedabad, authorities said, in the world's worst aviation disaster in a decade. It was not immediately clear what caused the crash. Boeing said in a statement it was aware of initial reports and was working to gather more information. Advertisement 3 All 242 people on board the London-bound plane were killed in the crash in the western city of Ahmedabad, authorities said, in the world's worst aviation disaster in a decade. SIDDHARAJ SOLANKI/EPA-EFE/Shutterstock The fatal crash tarnishes the Dreamliner jet's safety record and muddies CEO Kelly Orthberg efforts to ramp up production as the airplane maker scored a flurry of new orders and hit production targets in May, heading into the Paris airshow. 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. Advertisement Boeing, however, has faced years of scrutiny and delays over its narrowbody 737 MAX jets, which were grounded for years following two fatal crashes. Last year, the US planemaker came under renewed scrutiny after a door plug blew off a 737 MAX 9 mid-flight, prompting a temporary FAA grounding and fresh concerns over quality control. 3 The fatal crash tarnishes the Dreamliner jet's safety record and muddies CEO Kelly Orthberg efforts to ramp up production as the airplane maker scored a flurry of new orders and hit production targets in May. Mattie Neretin/CNP / Shares of Spirit AeroSystems, a key supplier, and GE Aerospace, which makes engines for the jet, also fell about 3% each. Advertisement GE Aerospace said in a post on X that it had activated its emergency response team and would support the investigation, but did not specify if the Air India aircraft was equipped with its engines. The engine maker did not immediately respond to a Reuters request for comment. 3 Last year, the planemaker came under renewed scrutiny after a door plug blew off a 737 MAX 9 mid-flight, prompting a temporary FAA grounding and fresh concerns over quality control. AFP via Getty Images Advertisement Boeing shares were trading at $196.75 after falling as much as 8 percent before the opening bell. 'It's a knee jerk reaction (to the incident) and there's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years,' said Chris Beauchamp, analyst at IG Group.
Business Recorder
2 days ago
- Business
- Business Recorder
Boeing shares fall 5% after Air India's Dreamliner jet crashes
Boeing's shares fell 5% on Thursday after an Air India 787-8 Dreamliner jet crashed minutes after taking off, posing a major setback for the planemaker as its new CEO looks to rebuild trust following a series of safety and production challenges. All 242 people on board the London-bound plane were killed in the crash in the western city of Ahmedabad, authorities said, in the world's worst aviation disaster in a decade. It was not immediately clear what caused the crash. Boeing said in a statement it was aware of initial reports and was working to gather more information. The fatal crash tarnishes the Dreamliner jet's safety record and muddies CEO Kelly Orthberg efforts to ramp up production as the airplane maker scored a flurry of new orders and hit production targets in May, heading into the Paris airshow. Air India plane with 242 on board crashes at India's Ahmedabad airport 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, however, has faced years of scrutiny and delays over its narrowbody 737 MAX jets, which were grounded for years following two fatal crashes. Last year, the U.S. planemaker came under renewed scrutiny after a door plug blew off a 737 MAX 9 mid-flight, prompting a temporary FAA grounding and fresh concerns over quality control. Shares of Spirit AeroSystems, a key supplier, and GE Aerospace, which makes engines for the jet, also fell about 3% each. GE Aerospace said in a post on X that it had activated its emergency response team and would support the investigation, but did not specify if the Air India aircraft was equipped with its engines. The engine maker did not immediately respond to a Reuters request for comment. Boeing shares were trading at $196.75 after falling as much as 8 percent before the opening bell. 'It's a knee jerk reaction (to the incident) and there's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years,' said Chris Beauchamp, analyst at IG Group.
CTV News
2 days ago
- Business
- CTV News
Boeing shares fall 5% after Air India's Dreamliner jet crashes
Firefighters work at the site of an airplane that crashed in India's northwestern city of Ahmedabad in Gujarat state, Thursday, June 12, 2025. (AP Photo/Ajit Solanki) Boeing's shares fell five per cent on Thursday after an Air India 787-8 Dreamliner jet crashed minutes after taking off, posing a major setback for the planemaker as its new CEO looks to rebuild trust following a series of safety and production challenges. All 242 people on board the London-bound plane were killed in the crash in the western city of Ahmedabad, authorities said, in the world's worst aviation disaster in a decade. It was not immediately clear what caused the crash. Boeing said in a statement it was aware of initial reports and was working to gather more information. The fatal crash tarnishes the Dreamliner jet's safety record and muddies CEO Kelly Orthberg efforts to ramp up production as the airplane maker scored a flurry of new orders and hit production targets in May, heading into the Paris airshow. 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, however, has faced years of scrutiny and delays over its narrowbody 737 MAX jets, which were grounded for years following two fatal crashes. Last year, the U.S. planemaker came under renewed scrutiny after a door plug blew off a 737 MAX 9 mid-flight, prompting a temporary FAA grounding and fresh concerns over quality control. Shares of Spirit AeroSystems, a key supplier, and GE Aerospace, which makes engines for the jet, also fell about three per cent each. GE Aerospace said in a post on X that it had activated its emergency response team and would support the investigation, but did not specify if the Air India aircraft was equipped with its engines. The engine maker did not immediately respond to a Reuters request for comment. Boeing shares were trading at US$196.75 after falling as much as eight per cent before the opening bell. 'It's a knee jerk reaction (to the incident) and there's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years,' said Chris Beauchamp, analyst at IG Group. (Reporting by Shashwat Chauhan, Nathan Gomes and Purvi Agarwal in Bengaluru; Editing by Saumyadeb Chakrabarty)
