Air India flight heading to London crashes; Boeing and GE shares slide

June 12, 2025 11:09 PM AEST | By Investing
 Air India flight heading to London crashes; Boeing and GE shares slide
Image source: Kalkine Media

Investing.com - An Air India plane flying to London’s Gatwick Airport crashed in Ahmedabad in western India shortly after take-off on Thursday, the carrier said on Thursday.

More than 200 passengers were on board the flight, Reuters has reported. All flights out of Ahmedabad have been temporarily suspended, the news agency said.

Citing local police, the Financial Times said the plane crashed "within 10 minutes" of take-off from the airport in Ahmedabad.

Flight tracking website Flightradar24 said in a post on social media that it was following reports of a crash involving Air India flight AI171.

"Initial ADS-B data from flight #AI171 shows that the aircraft reached a maximum barometric altitude of 625 feet (airport altitude is about 200 feet) and then it started to descend with an vertical speed of -475 feet per minute," Flightradar24 said in a post on X.

The signal from the aircraft was lost at 10:08 local time, less than a minute after take-off, Flightradar24 said.

The plane was a Boeing (NYSE:BA) 787-8 Dreamliner, Flightradar24 noted, adding that the first flight of the aircraft was in December 2013 and it was delivered to Air India in January 2014. Shares in Boeing were down more than 8% in pre-market U.S. trading, while GE Aerospace (NYSE:GE), whose GEnx-1B engines power the 787 Dreamliner, fell 6.3%.

"Given the recent history of tragic airline incidents, the best-case scenario for Boeing’s stock is that this event is due to specific circumstances like pilot error and therefore does not affect new airplane deliveries," analysts at Morgan Stanley (NYSE:MS) led by Kristine Liwag said in a note.

"The worst-case scenario for Boeing’s stock is a system issue that could potentially ground the fleet and halt new aircraft deliveries."

However, the analysts said it will likely take some time for aviation authorities to determine the cause of the accident.

(Senad Karaahmetovic contributed to this report.)

This article first appeared in Investing.com


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