Air India Plane Crash: Boeing Shares Plunge 8% In Pre-Market Session After Ahmedabad Accident; Here’s Why

Air India Plane Crash: Boeing Co's share price tumbled nearly 8% during the pre-market trading session in the US, hours after a London-bound Air India flight, with 240 passengers onboard, crashed in Ahmedabad on Thursday, June 12.

Boeing Co's shares were trading nearly 8.10% lower at $196.66 per share on NYSE at 3:33 pm (IST). The company stock had settled marginally lower at $214 in last trading session.

The crashed plane, a Boeing Dreamliner, was a 787 craft. Air India's AI71 flight from Ahmedabad to London Gatwick was involved in the accident, confirmed Air India. The flight was carrying nearly 242 passengers and crew members on board the Boeing 787-8 aircraft.

"Flight AI171, operating Ahmedabad-London Gatwick, was involved in an incident today, 12 June 2025. At this moment, we are ascertaining the details and will share further updates as soon as possible on airindia.com and our X handle (x.com/airindia)," ANI quoted an Air India spokesperson.

Air India Ahmedabad Plane Crash: What Has Happened So Far?

According to Air Traffic Control (ATC), the aircraft departed from Ahmedabad at 1339 IST (0809 UTC) using runway 23. It issued a MAYDAY call but did not respond to subsequent ATC communications. The plane crashed just outside the airport perimeter immediately after takeoff from Runway 23. Witnesses reported seeing heavy black smoke rising from the crash site.

Aviation Minister Ram Mohan Naidu expressed his shock over the incident: "Shocked and devastated to learn about the flight crash in Ahmedabad. We are on the highest alert. I am personally monitoring the situation and have directed all aviation and emergency response agencies to take swift and coordinated action. Rescue teams have been mobilised, and all efforts are being made to ensure medical aid and relief support are being rushed to the site. My thoughts and prayers are with all those on board and their families."

Air India's Chairman, N Chandrasekaran, issued a statement expressing condolences with the families and loved ones affected by Ahmedabad accident.

With profound sorrow I confirm that Air India Flight 171 operating Ahmedabad London Gatwick was involved in a tragic accident today. Our thoughts and deepest condolences are with the families and loved ones of all those affected by this devastating event. At this moment, our primary focus is on supporting all the affected people and their families. We are doing everything in our power to assist the emergency response teams at the site and to provide all necessary support and care to those impacted. Further updates will be shared as we receive more verified information. An emergency centre has been activated and support team have been set up for families seeking information," read a statement by N. Chandrasekaran.