Boeing shares plunge 8% in pre-market trade after Air India Dreamliner crashes near Ahmedabad

Shares of Boeing Co fell sharply in premarket U.S. trading on Thursday, declining more than 8% after an Air India-operated Boeing 787-8 Dreamliner crashed shortly after takeoff from Ahmedabad’s Sardar Vallabhbhai Patel International Airport. The incident has reignited global scrutiny over the U.S. aerospace giant’s safety track record, especially concerning its wide-body aircraft.

Flight AI-171, bound for London’s Gatwick Airport, had 242 people on board, including 230 passengers and 12 crew members. The aircraft went down minutes after departure from runway 23, reportedly issuing a mayday call before losing contact with air traffic controllers. The crash occurred in the densely populated Meghaninagar area, triggering a massive rescue operation.

Eyewitnesses described a loud explosion, followed by a fireball and thick black smoke rising from the crash site. Multiple homes and structures in the vicinity were reportedly damaged. Emergency services, including seven fire engines and several National Disaster Response Force (NDRF) units, were immediately mobilised. Injured individuals were rushed to nearby hospitals, and green corridors were established to expedite medical care.

As of Thursday afternoon, there was no official confirmation of fatalities, although visuals from the scene suggested significant structural damage and possible civilian casualties.

The aircraft involved, registered as VT-ANB, was a Boeing 787-8 Dreamliner—one of the newest and most fuel-efficient models in the global commercial fleet. The pilot-in-command, Captain Sumeet Sabharwal, had logged over 8,200 flying hours, while First Officer Clive Kundar had around 1,100 hours of experience.

Boeing, in a brief statement, said it was “aware of initial reports and is working to gather more information.” The incident comes as a fresh blow to the company, which is under intense pressure to restore confidence in its aircraft following past safety controversies, notably involving the 737 MAX. The company is also currently undergoing a production overhaul under new CEO Kelly Orthberg.

“This is a knee-jerk reaction to the incident, and it revives fears of the problems that plagued Boeing aircraft and the company itself in recent years,” said Chris Beauchamp, market analyst at IG Group.

The crash is expected to put renewed focus on Boeing's Dreamliner program, which has been under the radar for quality-control issues in recent years. Shares of Boeing were last seen trading at $196.52 in premarket action.

India’s aviation regulator, the Directorate General of Civil Aviation (DGCA), has launched a full investigation. Both the flight data recorder and cockpit voice recorder have been recovered and will be analysed to determine the cause of the crash.

Civil Aviation Minister Ram Mohan Naidu and Home Minister Amit Shah expressed grief over the incident and said the government is committed to ensuring a thorough and transparent inquiry. Additional NDRF personnel have been deployed to aid in rescue and recovery operations.