Boeing's stock price fell by almost 5 per cent on Thursday, after an Air India flight crashed in the Indian city of Ahmedabad.
The plane, a Boeing 787 Dreamliner that had 242 people on board and was bound for London's Gatwick Airport, crashed shortly after take-off.
According to air traffic control at the airport in Ahmedabad, the plane took off at 1.39pm (12.09pm UAE) from runway 23. It gave a “mayday” call, signalling an emergency but there was no response after that.
Boeing president Kelly Ortberg said that he has spoken with Air India chairman Natarajan Chandrasekaran to offer the company full support, adding that Boeing "stands ready" to support the investigation being led by India’s Aircraft Accident Investigation Bureau.
"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," Mr Ortberg said.
Boeing said it would defer to the AAIB to provide information about Air India Flight 171.
The company's shares closed 4.79 per cent lower at $203.75 on Thursday after falling as much as 8 per cent during pre-market trading.
Thursday's crash comes as the US plane maker is already trying to regain the trust of its airline customers after a series of safety setbacks in recent years.
While aviation authorities are still investigating the cause of the Air India crash, analysts believe this will be a test for Boeing, given recent accidents involving its aircraft. However, this is the first time a Boeing 787 Dreamliner has crashed.
"Today's tragedy comes just as Boeing thought it had put its problems behind it," Chris Beauchamp, analyst at UK-based IG Group, told The National.
"And to make matters worse, from an investment perspective, the 787 is its flagship airliner, in demand around the globe. It changes the entire narrative around the company, back to the introspective mood that prevailed after previous crashes."
This is also perhaps the first real challenge for Mr Ortberg, as he is about to finish a year at the helm, Mr Beauchamp added.
Saj Ahmad, chief analyst at StrategicAero Research, said it was "too premature to speculate" over the reason for the Air India crash.
"But it would suffice to say, airlines have been steadily regaining faith and trust in Boeing under its new leadership with Kelly Ortberg," he told The National.
"Goodwill is not going to go away on the back of this crash, particularly as airlines and customers will be seeking answers as to why this happened in the first place and what can be done to prevent such an event happening again."
His views were echoed by Kapil Kaul, chief executive and director, Capa India, a specialist aviation advisory and research business.
"The Indian aviation sector has maintained a strong safety record, and it is important to recognise that it is too early to ascertain the reasons for this crash since potential causes may range from technical to operational factors, including the impact of bird strikes," Mr Kaul told The National.
Until Thursday’s crash the Dreamliner had maintained a strong safety record. There had been 171 incidents involving technical issues and glitches for the 787, according to data compiled by Aviation Safety Network. Indian airlines account for 14 of those.
Boeing’s other aircraft, however, have figured in a number of accidents, the most recent of which were crashes in 2018 and 2019, involving Indonesia’s Lion Air and Ethiopian Airlines, respectively, resulting in the deaths of 346 people.
With the Air India crash, a total of 107 crashes have involved Boeing jets, according to industry tracker 1001Crash.com.
Air India has ramped up its fleet expansion under Tata Group, the Indian conglomerate that acquired the airline in 2022.
At the 2023 Paris Airshow, Air India placed an order for 220 Boeing jets, including 190 737-Max aircraft, 20 Dreamliners and 10 of its 777X jets, in addition to signing options for another 50 737-Max jets and 20 787s.
That was part of a broader 470 aircraft order alongside a 250-jet purchase from Boeing’s European rival Airbus, which was worth $70 billion at that time.
"Since privatisation, Air India has invested significantly in structurally enhancing the airline’s air safety regime and maintains a relatively younger fleet – underscoring the importance of a thorough investigation into this accident," Mr Kaul said.
The Air India aircraft involved in Thursday's deadly crash made its first flight on December 14, 2023, according to aviation data company Cirium. The aircraft, which is 11.5 years old and was manufactured in Seattle, was delivered to the Indian carrier on January 28, 2014.
It had more than 41,000 hours of flying time, and nearly 8,000 take-offs and landings, including some 700 cycles in the past 12 months, which is average for that aircraft build year/period, Cirium data showed.
UAE currency: the story behind the money in your pockets
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
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Analysis
Maros Sefcovic is juggling multiple international trade agreement files, but his message was clear when he spoke to The National on Wednesday.
The EU-UAE bilateral trade deal will be finalised soon, he said. It is in everyone’s interests to do so. Both sides want to move quickly and are in alignment. He said the UAE is a very important partner for the EU. It’s full speed ahead - and with some lofty ambitions - on the road to a free trade agreement.
We also talked about US-EU tariffs. He answered that both sides need to talk more and more often, but he is prepared to defend Europe's position and said diplomacy should be a guiding principle through the current moment.
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Scoreline
Bournemouth 2
Wilson 70', Ibe 74'
Arsenal 1
Bellerin 52'
Company profile
Name: Fruitful Day
Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie
Based: Dubai, UAE
Founded: 2015
Number of employees: 30
Sector: F&B
Funding so far: Dh3 million
Future funding plans: None at present
Future markets: Saudi Arabia, potentially Kuwait and other GCC countries
Squad
Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas)
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Try out the test yourself
Q1 Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?
a) More than $102
b) Exactly $102
c) Less than $102
d) Do not know
e) Refuse to answer
Q2 Imagine that the interest rate on your savings account was 1 per cent per year and inflation was 2 per cent per year. After one year, how much would you be able to buy with the money in this account?
a) More than today
b) Exactly the same as today
c) Less than today
d) Do not know
e) Refuse to answer
Q4 Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”
a) True
b) False
d) Do not know
e) Refuse to answer
The “Big Three” financial literacy questions were created by Professors Annamaria Lusardi of the George Washington School of Business and Olivia Mitchell, of the Wharton School of the University of Pennsylvania.
Answers: Q1 More than $102 (compound interest). Q2 Less than today (inflation). Q3 False (diversification).
Four motivational quotes from Alicia's Dubai talk
“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”
“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”
“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”
“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”
RESULTS
5pm: Maiden (PA) Dh80,000 1,400m, Winner SS Lamea, Saif Al Balushi (jockey), Ibrahim Al Hadhrami (trainer).
5.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,400m, Winner AF Makerah, Sean Kirrane, Ernst Oertel
6pm: Handicap (PA) Dh80,000 1,600m, Winner Maaly Al Reef, Brett Doyle, Abdallah Al Hammadi
6.30pm: Handicap (PA) Dh90,000 1,600m, Winner AF Momtaz, Antonio Fresu, Musabah Al Muhairi
7pm: Handicap (PA) Dh80,000 2,200m, Winner Morjanah Al Reef, Brett Doyle, Abdallah Al Hammadi
7.30pm: Handicap (TB) Dh100,000 2,200m, Winner Mudarrab, Jim Crowley, Erwan Charpy
WWE Evolution results
- Trish Stratus and Lita beat Alicia Fox and Mickie James in a tag match
- Nia Jax won a battle royal, eliminating Ember Moon last to win
- Toni Storm beat Io Shirai to win the Mae Young Classic
- Natalya, Sasha Banks and Bayley beat The Riott Squad in a six-woman tag match
- Shayna Baszler won the NXT Women’s title by defeating Kairi Sane
- Becky Lynch retained the SmackDown Women’s Championship against Charlotte Flair in a Last Woman Standing match
- Ronda Rousey retained the Raw Women’s title by beating Nikki Bella
What you as a drone operator need to know
A permit and licence is required to fly a drone legally in Dubai.
Sanad Academy is the United Arab Emirate’s first RPA (Remotely Piloted Aircraft) training and certification specialists endorsed by the Dubai Civil Aviation authority.
It is responsible to train, test and certify drone operators and drones in UAE with DCAA Endorsement.
“We are teaching people how to fly in accordance with the laws of the UAE,” said Ahmad Al Hamadi, a trainer at Sanad.
“We can show how the aircraft work and how they are operated. They are relatively easy to use, but they need responsible pilots.
“Pilots have to be mature. They are given a map of where they can and can’t fly in the UAE and we make these points clear in the lectures we give.
“You cannot fly a drone without registration under any circumstances.”
Larger drones are harder to fly, and have a different response to location control. There are no brakes in the air, so the larger drones have more power.
The Sanad Academy has a designated area to fly off the Al Ain Road near Skydive Dubai to show pilots how to fly responsibly.
“As UAS technology becomes mainstream, it is important to build wider awareness on how to integrate it into commerce and our personal lives,” said Major General Abdulla Khalifa Al Marri, Commander-in-Chief, Dubai Police.
“Operators must undergo proper training and certification to ensure safety and compliance.
“Dubai’s airspace will undoubtedly experience increased traffic as UAS innovations become commonplace, the Forum allows commercial users to learn of best practice applications to implement UAS safely and legally, while benefitting a whole range of industries.”
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
