Rafale maker French firm's shares record further drop

Following an implicit acknowledgment by the Indian Air Force of aircraft losses during Pakistan’s counterstrike on the night of May 6–7, shares of Dassault Aviation—the French manufacturer of the Rafale fighter jet—fell a further 5.59% today.

At a recent media briefing, Indian Air Marshal A.K. Bhardwaj was asked whether he could confirm the downing of a Rafale.

He replied, “Losses are part of combat, and I cannot provide further details, as that would aid the adversary.”

That remark appeared to reassure investors that at least one Rafale had indeed been lost.

Over the past five trading days, Dassault Aviation’s share price has declined by 10.33%, erasing earlier gains of 3.4% recorded in the preceding five-day period.

During the May 6–7 engagements, Indian aircraft struck multiple locations in Pakistan.

Read more: Pakistan shatters India's pride Rafale as The Telegraph acknowledges PAF supremacy

In swift retaliation, Pakistan’s armed forces destroyed five Indian jets—including three Rafales—marking one of the conflict’s most significant aerial exchanges.

Meanwhile, share prices of China's Chengdu Aircraft Corporation (CAC) surged following reports that the Pakistan Air Force (PAF) had shot down multiple Indian combat aircraft, including French-made Rafale jets.

CAC, which manufactures the J-10 and JF-17 fighter jets used by the PAF, saw its stock price at the Shenzhen Stock Exchange rise to CNY 71.08, up 18% from the previous close.