Boeing and GE Aerospace see continued losses in pre-market trading following the fatal Air India accident.

Boeing shares began the day lower at $200.68 on Thursday and were trading at $201.09 by 9:31 PM IST, continuing a downward trend following the crash of an Air India 787-8 Dreamliner near Ahmedabad, which resulted in over 260 fatalities, including both passengers and ground casualties, as reported by PTI.

GE Aerospace, the engine supplier for the Dreamliner, was also down, falling 1.3% as of 09:41 PM IST.

The Boeing wide-body aircraft crashed into the B J Medical College complex shortly after take-off from Ahmedabad on June 12. At nearly 12 years old, this incident marks the first complete loss of a Boeing 787 aircraft.
Boeing’s stock had closed approximately 5% lower at $203.75 on Thursday. In pre-market trading on Friday, shares declined another 1.5% to $200.54.
This incident has intensified scrutiny on Boeing’s safety record, especially as the company faces multiple ongoing investigations.

Also Read: US sees no immediate reason to ground Boeing 787 after Air India crash kills over 240

US Transportation Secretary Sean Duffy stated that no urgent safety issues have been identified that would necessitate grounding the 787 fleet. Nonetheless, a team from the FAA and NTSB, along with representatives from Boeing and GE Aerospace, is traveling to India to support the investigation.

Boeing also endured the grounding of its 737 MAX aircraft from March 2019 until December 2020. The 737 MAX resumed operations in India in November 2021.

A significant element of the Dow Jones Industrial Average, Boeing’s ongoing stock decline has impacted market sentiment. The crash involved 242 passengers and crew members, comprising 169 Indian nationals and over 60 foreign citizens.