IndiGo, SpiceJet shares sharply drop after Air India flight crashes near Ahmedabad airport

Airline stocks saw a sharp decline in the afternoon trading hours of June 12 after a plane crashed near the Ahmedabad Airport in Gujarat. IndiGo shares sharply fell 3 percent to trade at Rs 5,465, while SpiceJet shares were down 1.5 percent.

Early reports suggest that a London-bound Air India flight with 242 passengers onboard crashed right after takeoff from the Sardar Vallabhbhai Patel International Airport. As per preliminary reports, the aircraft crashed in a densely populated area near the airport and hit a building. Immediately post the crash, local residents rushed to the area to help with rescue efforts.

Visuals of the plane crash site show thick willow of smoke emanating from the area.

After the tragedy took place, Air India took to X to say, "Flight AI171, operating Ahmedabad-London Gatwick, was involved in an incident today, 12 June 2025. At this moment, we are ascertaining the details and will share further updates at the earliest."