HAL Says Tejas Crash At Dubai Airshow Due To ‘Exceptional Circumstances'
In an exchange filing, the company said it is fully cooperating with investigative agencies and will keep stakeholders informed of any material developments.
Hindustan Aeronautics Ltd. has clarified that the recent Tejas Light Combat Aircraft crash during the Dubai Airshow was an “isolated occurrence arising out of exceptional circumstances” and will not affect its business operations. In an exchange filing, the company said it is fully cooperating with investigative agencies.
“We would like to bring to your attention that the recent incident during the aerial display at the Dubai Air Show is an isolated occurrence arising out of exceptional circumstances,” the filing read.
It further added that, “We would like to assure that there is no impact on the Company’s business operations, financial performance or its future deliveries. The Company is extending its full support and cooperation to the agencies conducting the investigation.”
It also assured that, “the Company will continue to keep the stakeholders informed of any material developments.”
This comes after the Tejas crash on Friday, which claimed the life of the pilot. The Tejas Light Combat Aircraft is central to HAL's financial outlook, accounting for 44% of the company's orderbook. The crash took place during the Dubai Airshow.
The pilot who dies was Wing Commander Namansh Syal, an Indian Air Force Officer who was doing air demonstration at Dubai Air Show on Friday. He is survived by his wife, also an IAF, and their six-year-old daughter.
The aircraft was a single-seated light combat aircraft, which Hindustan Aeronautics Ltd. developed. It crashed at around 2:10 p.m. local time NDTV reported citing sources.
