Boeing shares tumble after Air India crash

Boeing shares dropped by 8 per cent in premarket US trading on Thursday following a crash involving an Air India aircraft carrying 242 people that occurred shortly after takeoff from Ahmedabad, India.

According to Flightradar24, the aircraft in question is a Boeing 787-8 Dreamliner, which is considered one of the most advanced passenger planes currently in operation.

Air India stated that the aircraft was headed to Gatwick Airport in the UK. Police officers reported that the plane crashed in a residential area near the airport, but did not confirm any casualties.

The cause of the crash was not immediately clear. Boeing stated that it was aware of the initial reports and was in the process of collecting more information.

The news arrives as the aircraft manufacturer works to regain trust in the safety of its jets and increase production under the leadership of new CEO Kelly Orthberg.

Attribution: Reuters

Subediting: Y.Yasser