New Delhi— Boeing’s stock plunged more than 6% in pre-market trading on Thursday after an Air India Boeing 787-8 Dreamliner crashed shortly after takeoff from Ahmedabad, raising fresh concerns about the safety of the aerospace giant’s aircraft.
As of 3:31 p.m. IST, Boeing shares had fallen 6.42%, trading at $196.51. This comes after the stock closed 0.80% lower on Wednesday at $214.
The ill-fated aircraft, manufactured by Boeing and operated by Air India, was headed from Ahmedabad to London’s Gatwick Airport with 242 people on board, including 10 crew members and three infants. It went down minutes after departure, crashing near the Meghani Nagar area of Ahmedabad and triggering thick plumes of black smoke seen across the city.
Emergency crews responded swiftly, with multiple fire brigade vehicles dispatched to the crash site. As of now, officials have not confirmed the number of casualties, and rescue operations remain underway.
“There is no confirmed cause of the crash at this stage. A detailed inquiry has been initiated,” a spokesperson for the Directorate General of Civil Aviation (DGCA) said. The aviation regulator has deployed teams to the site to collect flight data, cockpit voice recordings, and eyewitness testimonies.
The aircraft, operated by Captain Sumeet Sabharwal — a veteran Air India pilot with over 8,200 flying hours — and First Officer Clive Kundar, who had logged 1,100 hours, departed from Runway 23 at 1:39 p.m. IST. Moments after takeoff, a Mayday signal was issued, but no further communication was received from the cockpit.
The plane crashed just outside the airport perimeter, suggesting a failure to achieve proper altitude after takeoff. DGCA officials are on site, and Boeing representatives are expected to assist with the investigation.
This marks one of the most serious aviation accidents involving a wide-body aircraft in India in recent years. It also adds to Boeing’s growing list of safety incidents. In December 2024, a Boeing 737-800 operated by Jeju Air crashed during landing in South Korea, killing 179 people.
Boeing, a U.S.-based aerospace and defense company, designs and manufactures commercial airplanes, satellites, rockets, and other equipment. The company has faced increased scrutiny over the last several years following multiple high-profile accidents. (Source: IANS)
