Boeing stock slumps after a deadly Air India crash of a 787 Dreamliner
The fatal crash, which killed at least 200 people, is the first for Boeing’s 787 Dreamliner
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Boeing stock was down some 6% Thursday morning after a fatal crash involving one of its 787-8 Dreamliner aircraft.
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The plane, operated by Air India, tragically crashed just minutes after takeoff from Ahmedabad, killing many of the people onboard and causing additional casualties on the ground, according to Indian officials. It's not yet clear if there are survivors from the flight itself.
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The plane was bound for London’s Gatwick Airport when it went down in a densely populated area, hitting residential buildings, a medical college, and offices near the airport. The cause of the crash has not yet been determined.
The event marks the first fatal crash involving a 787 Dreamliner since the aircraft entered service in 2011. In addition to the human toll, it delivers a devastating blow to what’s been thought of as one of Boeing’s most modern jets. While the Dreamliner faced some battery-related groundings early in its history, it has, until now, avoided the kind of tragedies that plagued Boeing’s 737 MAX program, which saw two deadly crashes in 2018 and 2019, and additional issues in 2024.
Spokespeople for Boeing have said the company is in contact with Air India and assisting investigators.
Safety questions surge back into focus
Just days ago, a raft of articles speculated about whether or not Boeing's turnaround might finally be turning. Now the crash revives old concerns and surfaces new ones just as recently-installed CEO Kelly Orthberg was attempting to restore public confidence.
Shares of key Boeing suppliers, including Spirit AeroSystems and GE Aerospace, also dropped approximately 2% each. Some analysts described the stock moves as knee-jerk reactions as fears about Boeing’s safety issues take hold once more.
As emergency responders remain on the scene in India, aviation specialists now turn to black box data for signs of whether this is an isolated incident or the start of another painful chapter.
Boeing’s response will be closely watched, too.