Boeing shares dropped nearly 8% in premarket U.S. trading on Thursday following the crash of an Air India flight shortly after takeoff from Ahmedabad, India. The aircraft, a Boeing 787-8 Dreamliner carrying 242 people en route to London’s Gatwick Airport, went down in a civilian area near the airport.
India’s federal health minister confirmed “many” fatalities, though full details remain unclear. Aviation tracker Flightradar24 identified the aircraft as part of Boeing’s modern Dreamliner series, known for its strong safety record and no prior fatal crashes. Boeing acknowledged the incident, stating it is gathering more information.
READ MORE: VIDEO: Air India Boeing 787 crashes after takeoff from Ahmedabad
The crash comes at a critical time for Boeing, as it works to rebuild public and industry confidence under new CEO Kelly Orthberg. The company is also ramping up production amid lingering concerns tied to past safety issues.
Boeing’s stock fell 7.5% to $197.82 premarket. “It’s a knee-jerk reaction and reflects renewed fears about Boeing’s troubled history,” said Chris Beauchamp, analyst at IG Group.
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