Boeing Air India Crash Probe ‘Far From Over,’ Says Airline’s CEO After Preliminary Report Clears Mechanical Fault

Air India CEO Campbell Wilson reportedly said in an internal memo that the investigation into the crash of flight AI 171, which involved the Boeing Co.’s (BA) 787-8 Dreamliner jet, is “far from over.”

According to a Reuters report, Wilson warned against jumping to premature conclusions following the release of the interim report by India’s Aircraft Accident Investigation Bureau (AAIB).

“The release of the preliminary report marked the point at which we, along with the world, began receiving additional details about what took place. Unsurprisingly, it provided both greater clarity and opened additional questions,” Wilson said in the memo.

He added that the preliminary investigation did not reveal any mechanical or maintenance faults with the Dreamliner jet.

Boeing’s shares were up nearly 1.5% during Monday’s pre-market trading session. Stocktwits data showed that the retail sentiment around the Boeing stock was in the ‘extremely bullish’ territory.

General Electric Co. (GE), which provided engines to power the Dreamliner jet, saw its shares move up marginally by 0.2%. Retail sentiment on Stocktwits remained in the ‘bearish’ territory.

Earlier, Boeing and the Federal Aviation Administration notified that the fuel control locks on the company’s aircraft are safe.

This comes after the preliminary report from AAIB sought no immediate action against Boeing or GE.

The Air India AI 171 flight crash resulted in the death of 242 passengers on board the plane and 19 people on the ground. One passenger survived the crash.

Meanwhile, the European Union Aviation Safety Agency announced an investigation into Air India Express, the airline’s budget brand, over safety concerns following falsification of compliance procedures.

Boeing’s stock is up more than 28% year-to-date and nearly 27% over the past 12 months.

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