Air India crash—Tata announces ₹1cr aid for each victim's family
What's the story
Tata Group Chairman N Chandrasekaran has issued a statement following the tragic crash of an Air India passenger plane on Thursday.
Chandrasekaran announced that the Tata Group will offer ₹1 crore to the family of each person who lost their life in the tragedy.
The Group will also bear the medical expenses of the injured and ensure they receive complete care and support.
Additionally, assistance will be provided for the reconstruction of B J Medical College's hostel.
Twitter Post
Official statement from the Tata Group
We are deeply anguished by the tragic event involving Air India Flight 171.
— Tata Group (@TataCompanies) June 12, 2025
No words can adequately express the grief we feel at this moment. Our thoughts and prayers are with the families who have lost their loved ones, and with those who have been injured.
Tata Group will…
Scenario
'Our thoughts and deepest condolences are with the families'
After the incident, Chandrasekaran stated, "With profound sorrow, I confirm that Air India Flight 171 operating from Ahmedabad to London Gatwick was involved in a tragic accident today."
"Our thoughts and deepest condolences are with the families and loved ones of all those affected by this devastating event," he added.
Support efforts
Emergency center activated for families seeking information
Chandrasekaran also said the airline's immediate focus is on providing full support to those affected by the tragedy.
"We are doing everything in our power to assist the emergency response teams at the site and to provide all necessary support and care to those impacted," he said.
An emergency center has been activated for families seeking information about their loved ones involved in this incident.
Twitter Post
CEO of Air India also issued a statement
Message from Campbell Wilson, MD & CEO, Air India. pic.twitter.com/19MiwtkwAI
— Air India (@airindia) June 12, 2025
Crash specifics
Air India flight had 242 people on board
The Boeing 787-8 Dreamliner, which was heading to London's Gatwick Airport from Ahmedabad, crashed shortly after takeoff.
The Directorate General of Civil Aviation (DGCA) confirmed that there were 242 people on board the aircraft, including two pilots and 10 cabin crew members.
A team has been dispatched to the crash site for investigation purposes.
Information
Aircraft pilot had 8,200 hours of flying experience
The aircraft was commanded by Capt Sumeet Sabharwal, a Line Training Captain (LTC) with 8,200 hours of flying experience, and First Officer Clive Kundar, who had logged 1,100 flight hours. According to Air Traffic Control (ATC), the aircraft departed Ahmedabad at 1:39pm from Runway 23.
Market reaction
Tata Group companies' stocks take a hit
The crash of the Air India carrier has also affected the stock performance of Tata Group companies.
Tata Investment Corporation and Tata Chemical saw a decline of 3.62% and 2.55%, respectively.
Other companies under the group, such as Tata Power, Tata Elxsi, Tata Steel, Tata Consumer Products, and Tata Technologies, also fell by over 2% each in their respective stocks.
Wider impact
Shares of IndiGo and SpiceJet are also down
The impact of the Air India crash wasn't limited to the Tata Group.
Shares of TAAL Ent and IndiGo also witnessed a decline, falling by 3.84% and 3.01%, respectively.
SpiceJet and Global Vectra's shares also fell by 1.85% and 0.96%, respectively, in their respective stock markets.
On a global scale, Boeing's shares were down by 5.14% in the pre-market trading session after news of the incident broke out.