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Aviation stocks took a beating across global markets on Friday, one day after the catastrophic crash of an Air India-operated Boeing 787-8 Dreamliner in Ahmedabad that claimed at least 265 lives. The tragic incident, involving Flight AI-171 en route to London Gatwick, has sent ripples across the aviation sector, prompting investor concerns over airline safety and operational risks.

Singapore Airlines, Indian Carriers See Market Reaction

Singapore Airlines (SIA), which owns a 25.1 per cent stake in Air India, witnessed a dip in its stock value on the Singapore Exchange. The carrier’s shares fell by as much as 2.1 per cent before settling at a 1.7 per cent loss at the midday break, trading at SGD 6.91, according to The Straits Times. The decline followed the crash of its associate airline’s aircraft that went down shortly after takeoff, crashing into the BJ Medical College campus in a heavily populated area, reported PTI.

Back home in India, domestic airline counters also faced sharp declines in early trading hours. IndiGo parent InterGlobe Aviation saw shares fall by nearly 3.5 per cent to Rs 5,293.60 before declining further to Rs 5,248.50 by the end of the session, marking a drop of over 4 per cent. Shares of SpiceJet mirrored the downward trend, initially falling over 2 per cent to Rs 43.99 and further to Rs 43.75 towards the closing bell.

Boeing Shares Suffer

Meanwhile, Boeing, the manufacturer of the aircraft involved in the crash, also faced investor backlash. Its stock on the New York Stock Exchange dropped 4.79 per cent on Thursday. Although the crash was not linked to any specific geopolitical development, market experts believe it deepened prevailing investor unease.

According to Air India, the aircraft carried 230 passengers, along with ten cabin crew and two pilots. Of the 242 people onboard, only one—a British national of Indian descent seated in 11A—survived. The individual is currently receiving medical treatment. 

In its statement, the airline provided a breakdown of the nationalities onboard: 169 Indian citizens, 53 British nationals, seven Portuguese, and one Canadian. To support families, dedicated helpline numbers have been activated—1800 5691 444 for domestic calls and +91 8062779200 for international callers.

As aviation authorities and safety experts begin investigations, the tragic loss has intensified scrutiny on airline protocols and fleet safety, with markets expected to remain cautious in the near term.