Boeing shares fall after Air India plane crash

Boeing shares fell today after one of its planes crashed shortly after takeoff in India.

The American aircraft manufacturing company, which has been plagued by safety problems in recent years, saw its shares fall by up to 8%.

A Boeing 787 Dreamliner aircraft – which was travelling to London's Gatwick Airport, with 242 people on board, exploded after crashing – shortly after take-off from Ahmedabad Airport.

Air India said 169 passengers were Indian nationals, 53 British, one Canadian and seven Portuguese.

"We are aware of the initial reports and are working to gather more information," a Boeing spokesman said.

The first flight of the Boeing 787 Dreamliner - involved in the accident - was in December 2013.

This is the first accident involving a Boeing 787 aircraft, according to the Aviation Safety Network database.

However, the fleet was reportedly grounded in 2013 after fires linked to lithium-ion batteries in its electrical power system.

It is understood that airline operators including British Airways, United Airways and Qatar Airways use the model.

Boeing aircraft have been involved in other incidents in recent years, such as the 2018 Lion Air crash involving a Boeing 737 Max, which killed 189 people.

In 2019, Ethiopian Airlines Flight 302, another Boeing 737 Max, crashed, killing 157 people on board. The entire Boeing 737 Max fleet was grounded following the incidents. 

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