Boeing shares drop nearly 8% after Air India Dreamliner crash in Ahmedabad: Report
New York: An Air India Boeing 787-8 Dreamliner carrying over people crashed near Ahmedabad airport on Thursday, sending Boeing Co.’s shares down 7.8% in U.S. premarket trading, Reuters reported.
The aircraft, headed to London’s Gatwick airport, crashed shortly after takeoff in a civilian area near the airport.
According to Flightradar data, the model involved was a Boeing 787-8 Dreamliner. The cause of the crash remains unknown.
Boeing issues statement
The U.S. planemaker acknowledged the incident in a brief statement. “We are aware of initial reports and are working to gather more information,” the company said.
Flight carried over 200 passengers
The flight was carrying 169 Indian nationals, 53 British passengers, 7 Portuguese citizens, and one Canadian.
Dense smoke was seen rising from Dharpur near Meghaninagar in Ahmedabad, prompting a rapid emergency response.
Fire brigades and other rescue teams were rushed to the scene. Authorities have not yet confirmed what led to the crash.
Shares fall as market reacts to incident
Following news of the crash, Boeing’s shares dropped 7.8% in U.S. premarket trade, falling to $197.3. The company’s stock has come under renewed scrutiny in recent years amid safety and manufacturing concerns across its aircraft portfolio.
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