The crash of an Air India 787-8 Dreamliner plane moments after taking off on Thursday caused Boeing shares to drop around 4.2 per cent on Thursday according to Reuters.
Supplier and Engine Maker Stocks Also Affected
Spirit AeroSystems, which is one of the main suppliers, and GE Aerospace, which produces engines for the plane, also dropped around 2 per cent each.
The fatal crash, which has so far resulted in 241 confirmed fatalities out of the 242 passengers, occurs just before the Paris Air Show next week when Boeing would have attended.
One of the Worst Crashes in Aviation History
The crash, which has been one of the worst to occur in aviation history, has further tarnished the image of Boeing, after its aircraft have been involved in a number of other crashes this year.
Boeing has been party to three high-profile crashes of 737 MAX planes in the past few years, two of which involved fatal crashes.
Details on the Crashed Air India Aircraft Amidst Boeing Share Drop
The Air India flight that crash-landed in Ahmedabad city is over a decade old. It began to fly in late 2013 and was delivered to Air India in January 2014. Since then, it racked up over 41,000 flight hours, including 420 hours on 58 flights in May and 165 hours on 21 flights in June, says Cirium, an airline data analytics company.
Boeing 787s Had No Prior Fatalities Until Now
The 787 widebody planes, among the newest passenger jets operational, have never suffered a fatal crash until Air India. They had to be grounded in 2013 because of battery problems but without anyone reported injured.
Boeing and also the airline Air India said they would cooperate with an investigation into the cause of the crash fully.
