India’s state-owned aircraft company sees share price fall after Tejas crash

Shares of Hindustan Aeronautics Limited (HAL), the manufacturer of India’s Tejas fighter jet, fell sharply on Friday after the aircraft crashed during a demonstration at the Dubai Air Show, resulting in the death of the pilot.

The UAE Ministry of Defense confirmed the fatality and said emergency teams immediately secured the crash site. Authorities expressed condolences and noted that coordination with Indian officials was under way.

The market responded quickly to the incident. HAL’s share price declined 2.58% during the trading session, dropping by 121.60 Indian rupees. The stock closed at 4,595 rupees on the Bombay Stock Exchange (BSE) as investor concerns rose following the high-profile accident involving the state-owned aerospace company.

Arab media reported widespread disappointment among spectators at the Dubai Air Show, with many attendees leaving the venue early after witnessing the crash.

Families, aviation enthusiasts and international delegations had gathered for the aerial display when the aircraft burst into flames.