Boeing's stock dropped after a 787 Dreamliner plane crashed in India, raising concerns over whether its recent rally may have just ended.
Air India, which the Tata Group acquired as part of the Indian government's bid to privatize the flag carrier in 2022, has signed several contracts in the past few years to expand its fleet significantly. In 2023, Air India announced plans to purchase 470 new aircraft, in one of the biggest aviation deals ever.
Boeing (NYSE: BA) stock is sinking in premarket trading, down 7.01% at press time, following a tragic Air India Boeing 787 Dreamliner crash in Ahmedabad, India.
Boeing's stock tumbled 6% in extended trading following news of a tragic crash involving one of its 787 Dreamliner aircraft. The Air India flight, carrying 242 passengers and crew members, crashed shortly after takeoff from Ahmedabad, India, en route to London Gatwick.
The Air India flight was carrying more than 200 people and crashed near the western Indian city of Ahmedabad.
AHMEDABAD, India (AP) — An Air India passenger plane bound for London with 244 people onboard crashed Thursday in India's northwestern city of Ahmedabad, the airline and local media reported.
Shares in Boeing Co (NYSE:BA, ETR:BCO) fell 8% after reports that one of its planes crashed on the way from India to the UK. Reports suggest 217 adults and 11 children were on board a flight that crashed near Ahmedabad airport after setting off for London.
Airbus is nearing a deal with Royal Air Maroc for around 20 of its small A220 passenger jets, gaining a foothold as the North African carrier also prepares to renew U.S. ties with a broader jet Boeing order, industry sources said.
Boeing booked 303 gross airplane orders in May, the most since December 2023. The plane maker has increased production of its bestselling 737 Max planes to 38 a month, the FAA-imposed limit.
U.S. equities were mixed and little changed at midday as the markets awaited any news from the trade talks between the U.S. and China that began today. The S&P 500 and Nasdaq rose, but the Dow Jones Industrial Average fell.
Shares of The Boeing Company BA surged a solid 10.8% over the past year. However, the aerospace giant lagged the S&P 500's return of 11.9%.
A Boeing 737 Max landed in China on Monday, the first in around two months. The same plane had previously been sent back to Seattle after trade tensions flared.