Boeing Shares Plunge 8% After Deadly Air India 787 Crash in Ahmedabad
The crash of a Boeing 787-8 shortly after takeoff in India triggered a sharp pre-market selloff, deepening concerns over the company's safety record just ahead of the Paris Air Show.
Boeing Co. (NYSE: BA) stock fell as much as 8% in pre-market trading on Thursday after an Air India-operated Boeing 787-8 Dreamliner crashed shortly after takeoff from Ahmedabad, India.
The sharp selloff highlights renewed investor anxiety over Boeing’s safety record, particularly its 787 line, just days before the Paris Air Show—where the company was set to showcase its aircraft and vie for global orders.
The aircraft, operating as flight AI 171 to London Gatwick Airport, crashed into a residential area five minutes after taking off at 1:38 p.m . local time, with 242 passengers and crew onboard. Air India confirmed the jet was carrying 169 Indians, 53 Britons, seven Portuguese nationals, and one Canadian.
Boeing issued a brief statement, saying, “We are aware of initial reports and are working to gather more information,” according to AP News.
The crash adds fresh pressure on Boeing, which has faced repeated scrutiny over its commercial aircraft lines, including past issues with the 737 MAX and earlier grounding of the 787 fleet in 2013 due to lithium-ion battery fires. The Dreamliner was the first commercial jet built primarily from composite materials and to make extensive use of advanced battery technology.
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