The Boeing Dreamliner crash involving an Air India 787-8 jet shocked financial markets. Boeing shares plunged 8% during U.S. premarket trading on Thursday.
The aircraft carried 242 people and crashed minutes after departing from Ahmedabad, a city in western India. It was heading to London’s Gatwick Airport. The plane went down in a residential area near the airport. India’s health minister confirmed that the crash caused many deaths. Emergency crews responded immediately. Firefighters, paramedics, and local police reached the site within minutes.
This crash marks the first fatal accident involving a Boeing 787 Dreamliner. Airlines praised the jet for its fuel efficiency and advanced composite materials. Until now, the Dreamliner had no history of fatal crashes.
Boeing has struggled with safety concerns in recent years, especially after two deadly 737 MAX crashes. New CEO Kelly Orthberg took over the company with a promise to restore trust and enforce higher safety standards. However, this latest crash poses a serious challenge to that mission.
Boeing expressed condolences to the victims’ families. The company stated it would cooperate fully with Indian aviation officials. The U.S. National Transportation Safety Board (NTSB) also plans to assist in the investigation, as the aircraft was U.S.-built.
The crash also impacted Boeing’s suppliers. Spirit AeroSystems, which builds fuselage parts for the 787, saw its shares drop by 4%. GE Aerospace, the engine manufacturer, also lost 4%. Although GE hasn’t confirmed whether its engines were used in this flight, the company said it had activated its emergency response team and would support the investigation.
By the time of this report, Boeing’s shares had fallen to $196.75. Analysts warned that more volatility could follow. They said the investigation’s outcome could influence Boeing’s production plans, regulatory environment, and investor sentiment in the weeks ahead.
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