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An Air India Boeing (NYSE: NYSE:BA) aircraft crashed Thursday during departure from Ahmedabad’s Sardar Vallabhbhai Patel International Airport. Flight AI171, bound for London Gatwick Airport, was identified as a Boeing 787 Dreamliner based on available flight data. Boeing, trading near its 52-week high of $218.80, has seen its stock surge 27.57% over the past six months despite showing weak financial health metrics according to InvestingPro analysis.
The cause of the crash remains unknown and is currently under investigation by aviation authorities. Morgan Stanley (NYSE:MS) reiterated its Equalweight rating on Boeing stock with a $200 price target following the incident.
Morgan Stanley noted the crash could represent either an isolated issue with specific circumstances or a potential system issue with the aircraft. The firm indicated a system issue would represent a worst-case scenario that could potentially ground the 787 fleet and halt new aircraft deliveries.
The investment bank acknowledged it will likely take time for investigators to determine the cause of the accident. Morgan Stanley stated it would closely monitor the ongoing investigation into the crash.
The incident increases regulatory scrutiny on Boeing and "derails the positive momentum on Boeing’s stock," according to Morgan Stanley’s analysis. The firm expects the market to react negatively to the news of the crash.
In other recent news, Air India’s Boeing 787 Dreamliner tragically crashed shortly after takeoff from Ahmedabad, resulting in the loss of all 242 lives on board, according to Indian Express. The aircraft was en route to London Gatwick when the incident occurred. Boeing has acknowledged the reports and is actively seeking more information about the crash. Spirit AeroSystems (NYSE:SPR), a key supplier for Boeing, is currently in the process of being acquired by Boeing, with the transaction expected to close in mid-2025. Meanwhile, GE Aerospace, whose engines powered the ill-fated aircraft, is dispatching a team to India to analyze cockpit data. This incident marks the first crash of a Boeing 787 since the model’s introduction, as noted by the Aviation Safety Network. Britain’s foreign office is collaborating with Indian authorities to ascertain the facts and provide support to those affected by the crash.
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