Air India plane crashes, Boeing shares experience sharp decline
An Air India plane departing from Ahmedabad and heading to London crashed 10 minutes after takeoff with 244 passengers on board. Following the incident, Boeing shares saw a sharp decline.
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Financial Times, citing information from local police, reported that the plane crashed "within 10 minutes" of takeoff from Ahmedabad airport.
Flight tracking platform Flightradar24 announced on social media that they are closely monitoring developments regarding the crash of Air India flight AI171. Flightradar24 stated that the aircraft was a Boeing (NYSE:BA) 787-8 Dreamliner model, which made its first flight in December 2013 and joined the Air India fleet in January 2014.
BOEING SHARES PLUMMET AFTER CRASH
Following the plane crash in India, Boeing shares fell by 6 percent in pre-market trading on the New York Stock Exchange. The company's market value decreased by approximately 10 billion dollars.