Shares of Hindustan Aeronautics Limited (HAL), the manufacturer of India’s Tejas fighter jet, fell by 2.62% following a crash at the Dubai Airshow. The incident has raised concerns about the aircraft’s reliability and affected investor confidence.
The crash occurred during a live aerial display at the prestigious international aviation event. Eyewitnesses reported seeing the aircraft descending rapidly before it went down near the runway and burst into flames. The dramatic incident forced organizers to briefly suspend the airshow.
Fortunately, the pilot managed to eject safely before impact, avoiding any casualties. However, the incident has become a significant embarrassment for India’s aviation sector, especially as it happened at a major global platform where countries showcase their military technology.
This marks the second crash of a Tejas fighter jet since the aircraft entered service with the Indian Air Force in 2015. The first incident occurred during a training flight in Rajasthan, raising questions about the jet’s operational safety.
The Tejas is India’s homegrown light combat aircraft, developed as part of the country’s efforts to build indigenous defense capabilities. HAL has invested significant resources in developing and promoting the jet for both domestic use and international sales.
The crash at such a high-profile event could impact potential export deals and damage the aircraft’s reputation in the international market. Aviation experts are now calling for a thorough investigation to determine the cause of the crash and address any technical issues.
HAL has not yet released an official statement regarding the incident or its impact on future production and sales plans.
