Boeing’s stock experienced a sharp decline in pre-market trading, falling from $214 to $198 — a drop of over 7%, according to international media. By early trading, shares had plunged further to around $196.52, marking an 8% decrease.
The exact cause of the recent Air India crash remains unknown. Boeing, in a brief statement, acknowledged the initial reports and said it is actively collecting more details about the incident.
Read more: Air India Jet Goes Down Near Ahmedabad, 110 Fatalities Confirmed
This downturn comes as the aircraft manufacturer continues efforts to restore public and industry confidence under its new CEO, Kelly Orthberg, following years of scrutiny over safety concerns and production issues.
Market analyst Chris Beauchamp of IG Group described the selloff as a “knee-jerk reaction,” adding that the crash has reignited worries about Boeing’s long-standing safety challenges.
The decline followed the tragic crash of a Boeing 787-8 Dreamliner operated by Air India. The aircraft, en route to London’s Gatwick Airport, crashed shortly after take-off from Ahmedabad on Thursday. It was carrying 242 people and went down in a densely populated area near Sardar Vallabhbhai Patel International Airport, leaving at least 110 people dead and many others injured.
