Boeing (BA) stock tumbled more than 4% Thursday after a Boeing 787-8 Dreamliner operated by Air India crashed shortly after takeoff near Ahmedabad airport, killing nearly all of the 242 people on board. The flight, headed for London’s Gatwick Airport, went down less than a minute after departing.
According to aviation tracking service FlightRadar24, the aircraft was delivered to Air India in 2014. Officials reported that emergency responders had recovered more than 200 bodies from the crash site, though at least one passenger is confirmed to have survived.
“Our deepest condolences go out to the loved ones of the passengers and crew on board Air India Flight 171, as well as everyone affected in Ahmedabad,” said Boeing CEO Kelly Ortberg in a statement. He added that a “Boeing team stands ready to support the investigation led by India’s Aircraft Accident Investigation Bureau.”
This marks the first fatal crash involving a Boeing 787 Dreamliner since its commercial debut in 2011, according to Boeing’s internal accident records.
Shares of Boeing suppliers were also impacted. GE Aerospace (GE) declined more than 2%, and Spirit AeroSystems (SPR) dropped over 2% during the session.
Indian authorities believe the only confirmed survivor of the crash is Vishwash Kumar Ramesh, a 40-year-old British national. Ahmedabad Police Chief G.S. Malik told Indian media that Ramesh, who showed his boarding pass to confirm his identity and seat assignment, was being treated for injuries to his chest, eyes, and feet.
“It all happened so quickly,” Ramesh told the Hindustan Times from his hospital bed. “When I got up, there were bodies all around me. I was scared. I stood up and ran. There were pieces of the plane all around me. Someone grabbed hold of me and put me in an ambulance and brought me to the hospital.”
Authorities said the aircraft was carrying 242 individuals: 169 Indian nationals, 53 British, seven Portuguese, and one Canadian. Officials have not yet released a cause for the crash.
Photos from the scene show the rear of the aircraft amidst wreckage in a densely populated residential area, reportedly housing medical professionals and their families.
The crash is a major setback for Boeing, which had seen its stock rise more than 20% in 2025 amid signs of a turnaround following a difficult 2024. That year included the infamous “door plug” incident on an Alaska Airlines (ALK) flight, sparking lawsuits, federal investigations, and sweeping safety reforms that led to a leadership overhaul.
Boeing also previously faced significant backlash following the crashes of Ethiopian Airlines Flight 302 and Lion Air Flight 610, which exposed fatal flaws in the 737 Max 8’s flight control software and led to a near two-year global grounding of that aircraft model.
Following Thursday’s incident, analysts at Edward Jones cautioned that heightened regulatory scrutiny may delay aircraft deliveries and impact cash flow. They maintained a Hold rating on Boeing.
“While a delay in deliveries is possible, Boeing maintains a strong order book, and we think significant cancellations of orders is unlikely given the lengthy wait times at Boeing’s primary competitor,” wrote Edward Jones senior industrials analyst Jeff Windau.
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