A major incident involving a Boeing aircraft in India has caused a sharp drop in the company’s stock price. The tragedy, which occurred soon after take-off, has caused grave alarm all throughout the world.
Crash of Boeing 787-8 Dreamliner in Ahmedabad
An Air India Boeing 787-8 Dreamliner aircraft crashed in Ahmedabad, the capital of Gujarat state in India. The aircraft was carrying 242 people and was a route to London. The crash occurred just one minute after take-off at 1:38 PM (local time) on Thursday, 12 June. The plane went down on a student hostel at B.J. Medical College.
This tragic event is being described as one of the worst aviation disasters in the world in the past decade.
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Boeing Shares Fall by 5%
Just hours after the crash, Boeing’s share price dropped by 5%. This fall came at a time when the company was already under pressure due to earlier problems.
Boeing had recently appointed a new CEO, Kathy Wrothberg, who was working hard to fix issues with safety and production and to regain public trust in the company. For such objectives, the crash has now become a significant setback.
Crash Happens at a Critical Time for Boeing
According to Reuters, this accident happened during a very important period for Boeing. The company had recently got new orders and finished its production targets for May.
Boeing was also preparing to showcase its achievements at the Paris Air Show, one of the biggest events in the aviation industry. This accident may impact their plans and reputation badly.
Renewed Concerns About Boeing’s Safety Standards
The world is now again concerned about Boeing’s aeroplanes as a result of this accident. The company is already facing issues with its 737 MAX series, including delays in production, safety faults, and global criticism.
Although the 787 Dreamliner series is known for being modern and safe, this tragic incident has damaged its long-standing reputation for being accident-free.
Cause of the Crash Still Unknown
The precise cause of the crash has not yet been determined. Boeing has released a statement saying it is aware of the initial reports and is collecting more information to understand what happened.
Source: Ntv
