Air India Plane Crash In Ahmedabad: How IndiGo, SpiceJet, Adani Ent, Boeing And Other Aviation Stocks Reacted To Tragedy?

Air India Plane Crash In Ahmedabad: The stock market saw sharp reactions on Thursday following the crash of Air India Flight AI-171 shortly after takeoff from Ahmedabad. The Boeing 787-8 Dreamliner aircraft was headed to London’s Gatwick Airport with 242 people on board when it went down near the Meghaninagar area, close to Sardar Vallabhbhai Patel International Airport.

Shares of Boeing, the manufacturer of the aircraft, dropped 7.8% in premarket US trading to $197.3 after news of the crash broke. "We are aware of initial reports and are working to gather more information," said Boeing.

In India, aviation-related stocks also came under pressure. InterGlobe Aviation Ltd (IndiGo) fell 3.31% to Rs 5,446.35, while SpiceJet dropped 2.40% to Rs 44.40.

The sell-off was fuelled by investor concerns over safety, potential regulatory scrutiny, and the broader impact on the aviation sector.

Adani Enterprises Ltd, which manages Ahmedabad's Sardar Vallabhbhai Patel International Airport, where the crash occurred, also saw its shares decline. The stock closed 1.89% lower at Rs 2,532.25. The crash has put focus on airport safety and emergency response preparedness.

Adani Group Chairperson Gautam Adani tweets, "We are shocked and deeply saddened by the tragedy of Air India Flight 171. Our hearts go out to the families who have suffered an unimaginable loss. We are working closely with all authorities and extending full support to the families on the ground."

The Directorate General of Civil Aviation (DGCA) confirmed the incident and said a full investigation is underway. According to the DGCA, the plane, operated by Air India, took off at 1:39 PM IST and gave a mayday call shortly after takeoff.

Also Read: Tata Issues Templated Statement After Ahmedabad Flight Crash

However, it lost contact with air traffic control and crashed just outside the airport perimeter. The aircraft was piloted by Capt. Sumeet Sabharwal, who had 8,200 hours of flying experience, and First Officer Clive Kundar, who had logged 1,100 hours.

Relief Efforts Underway 

Relief and rescue operations are in full swing at the site of the Air India plane crash in Ahmedabad. Air India has set up a dedicated passenger helpline number — 1800 5691 444 — to provide information to families and loved ones of those affected.

Tata Group Chairman N. Chandrasekaran, in a statement, confirmed the tragic incident and expressed deep sorrow. “With profound sorrow, I confirm that Air India Flight 171 operating from Ahmedabad to London Gatwick was involved in a tragic accident today. Our thoughts and deepest condolences are with the families and loved ones of all those affected by this devastating event,” he said.

Gujarat Chief Minister Bhupendra Patel has ordered urgent rescue and relief work at the crash site. He has also directed hospitals to ensure immediate treatment for injured passengers.

Prime Minister Narendra Modi spoke with Civil Aviation Minister Rammohan Naidu and Home Minister Amit Shah to get updates on the incident. He is closely monitoring the situation, sources told ANI.

To support rescue operations, three teams from the National Disaster Response Force (NDRF), with 90 personnel, have been sent from Gandhinagar. Three more teams from Vadodara are on their way to Ahmedabad.

(With Agencies Inputs)