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Boeing (NYSE:BA) shares fell nearly 8% in premarket trading Thursday following a fatal crash involving an Air India Boeing 787-8 Dreamliner. The aircraft, carrying 242 people, went down just minutes after takeoff from Ahmedabad, India, en route to London’s Gatwick Airport.
India’s health minister confirmed that “many people” died in the crash, which occurred in a civilian area near the airport. The cause remains unknown, and investigations are ongoing. Boeing said it is aware of the incident and is actively gathering more information.
The 787-8 Dreamliner, known for its modern design and fuel efficiency, has maintained a strong safety record. Though the fleet faced grounding in the past due to battery issues, no fatal incidents have previously been linked to the aircraft.
The crash comes at a critical time for Boeing, which has been working to restore its reputation amid ongoing scrutiny over safety standards. New CEO Kelly Orthberg has prioritized rebuilding trust and accelerating production, especially after previous setbacks involving the 737 MAX and other high-profile safety concerns.
The incident has triggered renewed investor anxiety, leading to a sharp selloff in Boeing shares, which were last seen trading at $197.82, down 7.5%. Analysts say the market reaction reflects lingering fears over Boeing's safety image and past technical failures, despite the Dreamliner's otherwise solid track record.
Industry expert Chris Beauchamp of IG Group noted the market’s “knee-jerk reaction” to the crash, pointing to revived fears about Boeing’s aircraft and operational oversight.
The timing of this crash could pose significant challenges for Boeing’s ongoing recovery efforts, both in terms of public perception and investor confidence, as it navigates heightened global scrutiny and aims to regain market momentum.
