Editor’s Note: The story has been updated to include Boeing's comments.
An Air India Boeing 787-8 Dreamliner by Boeing Co. (NYSE:BA) crashed on Thursday near the Ahmedabad airport, with 242 passengers on board. The flight was en route to London Gatwick from Ahmedabad.
What Happened: The Air India flight, AI171, met with a tragic fate during takeoff from the Sardar Vallabhbhai Patel International Airport in Ahmedabad on Thursday.
The passenger aircraft, a Boeing 787 Dreamliner with a capacity of 300, crashed in the Meghani area of the city. Thick smoke was seen rising from Dharpur near Meghaninagar, suggesting a major fire likely caused by the substantial fuel load carried for the long-haul flight to London. Emergency response units and fire brigade teams have been deployed to the scene.
Boeing tells Benzinga, “We are aware of initial reports and are working to gather more information.”
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Why It Matters: This incident adds to the recent challenges faced by Boeing. In 2024, a Boeing 737-800 operated by South Korea's JejuAir crashed, killing 179 of 181 passengers. This raised serious questions about Boeing’s safety record and led to a 30% stock decline in the same year.
In May, the U.S. Department of Justice (DoJ) moved to dismiss a criminal fraud charge against Boeing, linked to two fatal 737 MAX plane crashes that claimed 346 lives. This decision followed an agreement between Boeing and the Justice Department.
In January 2013, the entire global fleet of Boeing 787 Dreamliners was grounded following a series of safety incidents linked to the aircraft’s lithium-ion batteries. The U.S. Federal Aviation Administration (FAA) responded by issuing an emergency airworthiness directive, requiring airlines to prove the safety of the batteries before resuming operations. Aviation authorities in Europe, Japan, and other regions quickly followed suit, grounding all Dreamliners operated by eight airlines worldwide. Boeing, while standing by the integrity of the 787, worked with regulators and airlines to develop technical solutions, including redesigning the battery system and adding fireproof containment, before the aircraft was cleared to return to service about three months later
During Thursday’s pre-market trading session, shares of Boeing declined 7.2%. On a year-to-date basis, it surged 24.51%.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
