Air India Boeing Dreamliner turns back
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The Directorate General of Civil Aviation (DGCA) announced that surveillance conducted on Air India’s Boeing 787 aircraft revealed no significant safety issues. This assessment comes just days after a tragic incident involving a different Boeing aircraft model resulted in at least 271 fatalities.
Boeing’s stock dropped after a 787 Dreamliner plane crashed in India, raising concerns over whether its recent rally may have just ended.
The Tata Group, which bought the airline three years ago, has been trying to improve operations at a time of great change in India’s aviation market.
The fatal crash tarnishes the Dreamliner jet’s safety record and muddies CEO Kelly Orthberg efforts to ramp up production as the airplane maker scored a flurry of new orders and hit
Despite its current price of approximately $205, which may seem like a reasonable valuation, we do not consider Boeing stock to be a compelling investment at this moment.
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Tata Group shares declined up to 2% in intraday trade on Friday amid weak trend in the Indian stock market and after a lethal Air India plane crash.
Following the Air India Flight 171 crash in Gujarat, Singapore Airlines' shares declined due to its stake in the airline. The Boeing 787-8 Dreamliner crashed shortly after takeoff, resulting in numerous fatalities and injuries.
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