Hindustan Aeronautics Ltd (HAL) on November 24 said the crash of a Tejas fighter jet during an aerial display at the Dubai Air Show on November 21 is "an isolated occurrence".
"We would like to bring to your attention that the recent incident during the aerial display at the Dubai Air Show is an isolated occurrence arising out of exceptional circumstances," HAL told stock exchanges as part of its clarification on the incident.
HAL, which manufactures the aircraft powered by General Electric engines, said it does not expect the incident to impact its business operations or future deliveries. The company said it is also extending its cooperation to the investigation.
"We would like to assure that there is no impact on the Company’s business operations, financial performance or its future deliveries. The Company is extending its full support and cooperation to the agencies conducting the investigation. The Company will continue to keep the stakeholders informed of any material developments," added HAL.
As the crash in Dubai cast a tragic shadow on an otherwise mega spectacle on the last day of the event, video footage showed the jet abruptly dropping height after what looked like a low-altitude manoeuvre and then nosedived into the ground in a matter of seconds before being engulfed in a ball of fire.
The single-engine light weight aircraft crashed at around 3.40 pm IST on November 21 after IAF Wing Commander Namansh Syal had flown across the site during the demonstration flight. The aerial display of Tejas was scheduled to last eight minutes.
The Indian Air Force has said it is setting up a court of inquiry to investigate the cause.
The crash dampens New Delhi's hopes of exporting the home-built jet and leaves it reliant on Indian military orders to sustain its role as a showcase of domestic defence technology, reported Reuters. Such a public loss could overshadow India's efforts to establish the jet abroad after a painstaking development over four decades, experts told Reuters.
Shares of the company, which were trading 3% lower since morning, were unchanged after the statement.
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