Airline Stocks Sink As Air India Crash Sparks Market Turbulence
Ahmedabad Air India Plane Crash: Shares of several aviation companies nosedived on Thursday afternoon after an Air India Boeing 787-8 Dreamliner, en route to London, crashed shortly after takeoff from Ahmedabad International Airport. The incident sent shockwaves through the stock market, especially across aviation and related sectors, with investors reacting sharply to the tragedy. InterGlobe Aviation Ltd, which owns IndiGo, saw its stock decline by 3.01 per cent. TAAL Enterprises Ltd, another aviation-linked entity, fell 3.84 per cent. SpiceJet’s stock dropped by 1.85 per cent, while Global Vectra Helicorp Ltd lost 0.96 per cent during the session. Tata Group Stocks Also Under Pressure The impact wasn’t limited to airline operators. Shares of Tata Group companies — the conglomerate that owns Air India — also took a hit. Tata Investment Corporation plunged 3.62 per cent, while Tata Chemicals declined 2.55 per cent. Other Tata entities including Tata Power, Tata Elxsi, Tata Steel, Tata Consumer Products, and Tata Technologies each saw losses of over 2 per cent. Global sentiment around aviation took a dip as well. In pre-market trading, shares of Boeing — the manufacturer of the ill-fated aircraft — were down by 5.14 per cent. DGCA Reveals Details Of The Crash India’s Directorate General of Civil Aviation (DGCA) confirmed that the aircraft had 242 people on board, including 2 pilots and 10 cabin crew members. "The aircraft was under the command of Capt Sumeet Sabharwal with First Officer Clive Kundar. Capt Sumeet Sabharwal is a LTC with 8200 Hrs of experience. The copilot had 1100 Hrs of flying experience," DGCA stated. The regulator provided a timeline of the flight’s final moments. "As per ATC, aircraft departed from Ahmadabad at 1339 IST (0809 UTC) from runway 23," the statement noted. "It gave a MAYDAY Call to ATC, but thereafter no response was given by the aircraft to the calls made by ATC. Aircraft Immediately after departure from Runway 23, fell on ground outside the airport perimeter. Heavy black smoke was seen coming from the accident site," it added. Investors Await Further Clarity With investigations underway, investors are closely monitoring developments around the crash and any potential regulatory implications for the aviation industry. Analysts expect continued volatility in the sector until more details emerge about the cause of the crash and its broader ramifications. The incident has once again highlighted the fragility of investor confidence in aviation-related stocks, where safety concerns can trigger swift and sharp market reactions.
Ahmedabad Air India Plane Crash: Shares of several aviation companies nosedived on Thursday afternoon after an Air India Boeing 787-8 Dreamliner, en route to London, crashed shortly after takeoff from Ahmedabad International Airport. The incident sent shockwaves through the stock market, especially across aviation and related sectors, with investors reacting sharply to the tragedy.
InterGlobe Aviation Ltd, which owns IndiGo, saw its stock decline by 3.01 per cent. TAAL Enterprises Ltd, another aviation-linked entity, fell 3.84 per cent. SpiceJet’s stock dropped by 1.85 per cent, while Global Vectra Helicorp Ltd lost 0.96 per cent during the session.
Tata Group Stocks Also Under Pressure
The impact wasn’t limited to airline operators. Shares of Tata Group companies — the conglomerate that owns Air India — also took a hit. Tata Investment Corporation plunged 3.62 per cent, while Tata Chemicals declined 2.55 per cent. Other Tata entities including Tata Power, Tata Elxsi, Tata Steel, Tata Consumer Products, and Tata Technologies each saw losses of over 2 per cent.
Global sentiment around aviation took a dip as well. In pre-market trading, shares of Boeing — the manufacturer of the ill-fated aircraft — were down by 5.14 per cent.
DGCA Reveals Details Of The Crash
India’s Directorate General of Civil Aviation (DGCA) confirmed that the aircraft had 242 people on board, including 2 pilots and 10 cabin crew members. "The aircraft was under the command of Capt Sumeet Sabharwal with First Officer Clive Kundar. Capt Sumeet Sabharwal is a LTC with 8200 Hrs of experience. The copilot had 1100 Hrs of flying experience," DGCA stated.
The regulator provided a timeline of the flight’s final moments. "As per ATC, aircraft departed from Ahmadabad at 1339 IST (0809 UTC) from runway 23," the statement noted. "It gave a MAYDAY Call to ATC, but thereafter no response was given by the aircraft to the calls made by ATC. Aircraft Immediately after departure from Runway 23, fell on ground outside the airport perimeter. Heavy black smoke was seen coming from the accident site," it added.
Investors Await Further Clarity
With investigations underway, investors are closely monitoring developments around the crash and any potential regulatory implications for the aviation industry. Analysts expect continued volatility in the sector until more details emerge about the cause of the crash and its broader ramifications.
The incident has once again highlighted the fragility of investor confidence in aviation-related stocks, where safety concerns can trigger swift and sharp market reactions.
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