Ahmedabad Plane Crash Impact: Shares of Boeing Co declined nearly 8 per cent tp $197.82 in pre-market U.S. trading on June 12. The stock declined after an Air India aircraft crashed minutes after take-off. The crashed aircraft was a Boeing 787-8 Dreamliner which was headed to London's Gatwick Airport. The London-bound flight, AI-171, had 242 people on board. The people on board included 230 passengers and 12 Air India crew members. Presently, the exact reason for the crash is not known. However, Boeing said in a statement that it is aware of initial reports and is working to get more information.
Notably the Boeing's 787 is a relatively newer series of aircrafts with no reports of crashes before June 12. According to a Reuters report in one instance a Boeing 787 was grounded on account of battery issues but no injuries were reported.
Domestic airline stocks also closed lower as news of the crash emerged. Shares of Interglobe Aviation (Indigo) ended lower by 3.32 per cent at Rs 5,444 apiece on the NSE. Shares of Spicejet closed lower by 1.78 per cent at Rs 44.68 apiece on the BSE. Shares of these airline stocks might have declined on account of heightened fear around air travel following news of the crash.
The plane crash happened in the Meghaninagar area, which is close proximity to the Sardar Vallabhbhai Patel International Airport. As per reports, eyewitnesses saw a huge ball of fire and a cloud of black smoke soon after the aircraft went down. Reports also suggested that the plane had sent out a mayday call moments soon after taking off from runway 23 of the Sardar Vallabhbhai Patel International Airport.
After the tragedy took place, Air India took to X and said that it is presently gathering details of the crash and will share updates soon.
"Flight AI171, operating Ahmedabad-London Gatwick, was involved in an incident today, June 12 2025. At this moment, we are ascertaining the details and will share further updates at the earliest," Air India said.
Notably, the decline in domestic airline stocks came amid selloffs in the stock market and declines in the benchmark indices. On June 12 the market also reacted global uncertainties, such as mounting US-Iran tensions and a steep rise in crude oil prices.
