Ahmedabad Plane Crash: Boeing shares drop over 6 per cent in pre-market trading after Air India tragedy

Shares of Boeing fell sharply in pre-market trading on Thursday, dropping over 6 per cent after an Air India Boeing 787-8 Dreamliner aircraft crashed in Ahmedabad. As of 3.31 p.m. IST, Boeing shares were down by 6.42 per cent in pre-market trading, at USD 196.51. On Wednesday, the stock had closed 0.80 per cent lower at USD 214.

Boeing is a US-based multinational company that designs, manufactures, and sells aeroplanes, helicopters, rockets, satellites, and missiles across the globe. The aircraft, manufactured by Boeing and operated by Air India, was en route from Ahmedabad to London when it crashed shortly after takeoff.

The flight was carrying 242 people, including 10 crew members and three infants. The crash occurred near the Meghani Nagar area of Ahmedabad. Witnesses reported seeing thick black smoke rising from the site immediately after the crash -- indicating potentially extensive damage.

Multiple fire brigade vehicles rushed to the scene as rescue and relief operations began swiftly. However, as of now, there is no official confirmation regarding the number of casualties or the extent of the damage.

"There is no confirmed cause of the crash at this stage. A detailed inquiry has been initiated," a Directorate General of Civil Aviation (DGCA) spokesperson said, adding that all relevant agencies are being involved in the probe.

The aircraft took off at 13.39 IST from Runway 23 at Sardar Vallabhbhai Patel International Airport. According to officials, a Mayday call was issued moments after liftoff, but no further communication was received from the cockpit.

The flight was being operated by Capt. Sumeet Sabharwal, a long-time Air India pilot with over 8,200 flying hours, and First Officer Clive Kundar, who had logged 1,100 hours. Thick black smoke was seen rising from the crash site by residents and airport staff.

According to the DGCA statement, emergency services were immediately dispatched, and rescue operations are still going on. The aircraft crashed outside the airport boundary, suggesting it failed to climb properly after takeoff.

According to information, the DGCA officials are on site collecting flight data, voice recordings, and witness accounts as part of the investigation. Sources said that Boeing representatives and officials are also expected to assist the ground staff.

This is one of the most serious aviation incidents in India in recent years involving a wide-body aircraft. Boeing aircraft have been involved in multiple crashes over the years. The most recent was a Jeju Air flight in South Korea, which crashed in late December 2024 during a landing attempt, resulting in the loss of 179 lives. That aircraft was a Boeing 737-800.

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