Shares of Boeing fell nearly 5% on Thursday after an Air India 787-8 Dreamliner crashed shortly after takeoff in Ahmedabad, killing most of the 242 people on board.
The accident is the first fatal crash involving the widebody 787, dealing a blow to Boeing ahead of the Paris airshow next week.
The cause of the crash is not yet known. The aircraft was en route to London when it went down, marking the world’s deadliest aviation disaster in a decade.
Boeing said it was aware of the reports and is gathering more information. The incident comes as CEO Kelly Ortberg has been working to restore trust in the company following earlier safety and production issues.
The crash adds to Boeing’s recent history of safety concerns. While the 787 had never had a fatal crash before, the 737 MAX was grounded globally for years after two deadly incidents. A separate issue involving a 737 MAX 9 door panel earlier this year also raised questions about quality control.
Spirit AeroSystems and GE Aerospace, both suppliers for the 787, saw their shares fall about 2%. GE Aerospace said it had activated its emergency response team but did not confirm whether the crashed aircraft used its engines.
Boeing bonds maturing in May 2029 also widened by 10 basis points after the crash. The company had recently met its production targets for May and was trying to regain momentum in aircraft deliveries.
