Boeing Co’s shares plunged over 7% in pre-market trading on Thursday after an Air India-operated Boeing 787-8 Dreamliner crashed shortly after take-off from Ahmedabad. The crash, which occurred in the Meghaninagar area near the Sardar Vallabhbhai Patel International Airport, has reignited concerns around the safety of Boeing aircraft.

The flight, AI-171, was bound for London Gatwick and was carrying 242 people, including 230 passengers, 12 crew members, and three infants. The aircraft reportedly issued a mayday call soon after departing from runway 23, but lost contact with air traffic control moments later. It crashed outside the airport perimeter, sending thick plumes of black smoke into the air.

Rescue teams, including fire engines and NDRF personnel, were deployed immediately. Several injured individuals were taken to local hospitals, and authorities established green corridors to expedite medical assistance.

Officials said a full investigation has been launched and the flight data recorders will be key to understanding the cause of the crash.

The incident has put fresh scrutiny on Boeing at a time when the company is already under regulatory and investor pressure due to recent safety issues involving its 737 MAX and 787 models.

Thursday’s sharp fall in Boeing’s share price reflects investor anxiety over the potential fallout from yet another high-profile crash.

As of Thursday evening, there was no official confirmation on the number of casualties. Political leaders across the country have expressed condolences and called for a transparent investigation.