Shares of airline companies—InterGlobe Aviation and SpiceJet witnessed intensified selling pressure on June 12 after reports of Air India’s London-bound plane crashing at Ahmedabad surfaced online.
According to reports, the Air India aircraft was carrying at least 242 passengers at the time of the incident. Further details on their condition are yet to be confirmed
Shares of airline companies—InterGlobe Aviation and SpiceJet witnessed intensified selling pressure on June 12 after reports of Air India’s London-bound plane crashing at Ahmedabad surfaced online.
An Air India Boeing 787 flight crashed shortly after taking off from Sardar Vallabhbhai Patel International Airport in Ahmedabad. The aircraft came down in the Meghani area of the city.
Emergency services have been activated following the crash as fire brigade and medical teams were swiftly dispatched to the site and the airport to carry out rescue operations. According to news agency ANI, the aircraft was carrying at least 242 passengers at the time of the incident.
In an official statement, Air India confirmed the incident, saying: "Flight AI171, operating Ahmedabad–London Gatwick, was involved in an incident today, 12 June 2025. At this moment, we are ascertaining the details and will share further updates at the earliest." Further information on the cause of the crash and the condition of those on board is awaited.
The Directorate General of Civil Aviation reported that Air India flight to London crashed shortly after takeoff from Ahmedabad on June 12. The Boeing 787 aircraft also issued a MAYDAY call before losing contact.
In response to the news of the crash, investors doubled down on selling shares of the two listed airline firms— IndiGo and SpiceJet, pulling them deeper into the red.
At 2.37 pm, shares of IndiGo were trading with cuts of around 2.5% while those of SpiceJet were down 2%. Side by side, shares of Boeing also tanked 7% on the New York Stock Exchange in the pre-trading session.