Aviation stocks declined sharply on Friday following the crash of Air India Flight 171 in Ahmedabad, with IndiGo operator InterGlobe Aviation falling 3.67 per cent to ₹5,275.50 and SpiceJet dropping 1.75 per cent to ₹43.90. Boeing shares also tumbled 4.79 per cent to $203.75 in US markets after the accident involving one of its 787 Dreamliner aircraft.
Air India Flight 171, a Boeing 787-8 carrying 242 people, crashed shortly after take-off from Ahmedabad Airport on June 12 while bound for London Gatwick. The aircraft went down in a residential area near BJ Medical College, with initial reports suggesting a possible bird strike affecting both engines. This marks the first-ever hull loss of a Boeing 787 since the aircraft entered commercial service in 2011.
Boeing CEO Kelly Ortberg expressed condolences and confirmed the company would support India’s Aircraft Accident Investigation Bureau probe. The crash has prompted event cancellations across the aviation industry, with manufacturers deferring promotional activities out of respect for victims.
The 787 Dreamliner, once considered a flagship of next-generation aviation technology, has faced previous technical challenges and production delays throughout its operational history. Market analysts are closely monitoring potential regulatory responses and their impact on aircraft orders as investigation details emerge.