Ahemedabad Air India Plane Crash: A major aircraft accident occurred on 12 June today in Ahmedabad, Gujarat. Air India’s Boeing 787-8 Dreamliner aircraft, Ahmedabad’s Sardar Vallabhbhai Patel crashed just a few minutes after flying from the International Airport. All 242 people aboard the aircraft are expected to die. The impact of this plane crash accident was also seen on the stock market. Especially the shares of airline, hotel and online travel booking companies saw a tremendous decline. Shares of the aircraft manufacturing Boeing also crashed on the New York Stock Exchange. Let us know which stocks were seen by the effect of this whole accident.
Shares of airline companies rolled down
The shares of Indian airline companies saw a decline soon after Air India’s plane crashed. The country’s largest domestic airline, IndiGo shares fell around 3% to around Rs 5,465. While SpiceJet’s shares also fell by 1.5%.
Online booking companies also got hit
Not only this, companies making online flight booking were also hit by this decline. Both the travel booking platform, Ixigo and Thomas Cook India slipped up to 4% shares. Similarly, TBO Tek shares fell by 3% and Mahindra Holidays shares declined by 2.5%. Shares of Ease My Trip and Yatra Online were also seen trading with a slight decline.
Shares of hotel companies also fell
The hotel industry also could not escape this crisis. The shares of Tata Group’s company Indian Hotels fell nearly 3% to around Rs 745. Shares of Chalet Hotels and Lemon Tree Hotels also slipped from about 2 to 3%. The stock market also saw a decline of more than 1% in the recently listed Leela Hotels parent company, Shlaos Bangalore (Leela Hotels).
Adani Enterprises shares broken up to 2%
Most importantly, Shares of Adani Enterprises, a company operating Ahmedabad Airport, also fell to about 2%. Adani Group took over the Ahmedabad Airport in the year 2020. The shares of its GMR Airports also saw a decline of more than 3%.
Boeing shared crash
The effect of this accident was also seen in foreign markets, the shares of the aircraft making company Boeing crashed over 8% in pre-market trading of New York Stock Exchange (NYSE). Let us tell you that the Air India aircraft crashed was a 787-8 Dreamliner aircraft of the Boeing company. This aircraft has crashed for the first time in its 15 years of history. The first flight of 787–8 variants took place in 2009 and can cover a distance of more than 13,500 km with 242 passengers. Since 2009, there was no news of the death of a passenger due to the accident of this aircraft.
Air India bought Boeing Dreamliner for long distance trips
The Boeing 787-8 Dreamliner aircraft in India are only with Air India. The company bought its first 787-8 Dreamliner from Boeing in 2012 for long distance air travel. Today Air India has 27 Boeing 787-8 Dreamliner aircraft, which fly on international routes from cities like Delhi, Mumbai and Ahmedabad. The company uses these aircraft for destinations like London, Singapore, Dubai, Tokyo, and Sydney. Boeing has sold over 1,700 787 Dreamliner aircraft worldwide by 2025.
It is counted among the most modern aircraft in the world. Its body is made up of carbon fiber composites, due to which it spends 20-25% less fuel than older aircraft. It contains features such as large windows, better cabin pressure and low noise cabin, which gives relief to passengers in long flights.
Looking for black boxes
At present, the investigation is going on how this aircraft crashed? The teams present at the scene are searching for its black box, which will be revealed only after meeting the incident.
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