Boeing share price dropped significantly following the Air India Boeing 787 Dreamliner crash. Boeing stock is tanking on the NYSE and is down over 7% in the pre-market session on Thursday.
Shortly after taking off on Thursday, an Air India aircraft carrying 242 passengers headed to London’s Gatwick Airport crashed in Ahmedabad. According to Flightradar24, the aircraft was a Boeing (NYSE:BA) 787-8 Dreamliner, which was delivered to Air India in January 2014.
Dreamliner
The 787 Dreamliner is a twin-engine, widebody aircraft. The Aviation Safety Network database indicates that this is the first Boeing 787 crash ever. According to the Flightradar24 database, since the aircraft’s 2009 launch, over 1,000 have been delivered to dozens of carriers.
In March 2024, the Federal Aviation Administration (FAA) issued a new directive calling for additional inspections of Boeing 787 Dreamliner aircraft after claims of discoveries of “excessive gaps”. The new Airworthiness Directive (AD) focuses on one important structural component: the forward pressure bulkhead.
The bulkhead in question serves as a partition separating the aircraft’s unpressurized nose section from the pressurized cabin. It divides the forward section, which houses the radar and radome apparatus.
Reports of manufacturing issues leading to “excessive gaps” are the reason for the proposed examinations.
The FAA’s proposed airworthiness directive (AD) mandates inspections for all 787-8, 787-9, and 787-10 models. This action follows reports of manufacturing errors, specifically “excessive gaps” and improper installation.
Flight Signals
“Initial ADS-B data from flight #AI171 shows that the aircraft reached a maximum barometric altitude of 625 feet (airport altitude is about 200 feet) and then it started to descend with a vertical speed of -475 feet per minute,” Flightradar24 said in a post on X. The signal from the aircraft was lost at 10:08 local time, less than a minute after take-off, Flightradar24 said.
Recently released Boeing’s production numbers in May were viewed positively by analysts on Wall Street. The Boeing stock price is up over 20% YTD , but the Air India Boeing 787 Dreamliner crash could dent the share price in the immediate term.