Boeing Stock Down 5% After 787-8 Dreamliner Air India Plane Crash
Air India Boeing 787-8 Dreamliner flight crashed in Meghaninagar with 242 people, including 10 crew members and three infants, on board.
Boeing Co. share price dropped more than 5% in New York market open on Thursday after a 787-8 Dreamliner plane, operated by Air India crashed in Ahmedabad.
This is the first time the wide-body model got involved in a crash.
The Boeing stock was the top loser on the US benchmark S&P 500. The index was trading flat.
On Wednesday, the aircraft manufacturer's stock settled 0.8% down at $214. The stock has been declining for two days.
Air India's Flight AI-171 Ahmedabad-London crashed in Meghaninagar with 242 people, including 10 crew members and three infants, on board.
In its first reaction to the tragedy, Boeing said, "We are aware of initial reports and are working to gather more information."
Of the 242 passengers on board, 169 were Indian nationals, 53 were British nationals, one was a Canadian national and seven were Portuguese nationals, according to a statement by Air India on X.
The airline has set up a dedicated passenger hotline number 1800 5691 444 to provide more information.
In the middle of 2024, the aviation regulators of the US called for an inspection of Boeing Co's 787 Dreamliner aircraft following an incident of a mid-air plunge in a flight in March 2024.
Boeing aircraft have been involved in numerous crashes in the past. The very recent one is South Korea's Jeju Air flight that crashed in late December 2024. The flight crashed while it attempted landing and cost 179 lives, as per data in the news. The aircraft was a Boeing 737–800 model.
