HAL Addresses Tejas Fighter Jet Crash at Dubai Air Show as "Isolated Occurrence" Amid Market Concerns

It is suspected that the Tejas jet pilot was unable to recover from a negative-G maneuver performed at low altitude.

New Delhi:

Hindustan Aeronautics Ltd (HAL), the state-run aerospace giant, described the fatal Tejas fighter jet crash during the Dubai Air Show as an "isolated occurrence" in a statement released Monday.

The HAL-manufactured Tejas aircraft crashed during an aerial display at the Dubai Air Show on Friday, resulting in the death of the pilot, Wing Commander Namansh Syal.

Photo Credit: REUTERS

As HAL shares declined over eight percent during Monday morning trading, the company stated that the crash resulted from "exceptional circumstances."

"We wish to emphasize that the recent incident during the aerial display at the Dubai Air Show is an isolated occurrence arising out of exceptional circumstances," HAL clarified in a stock exchange filing.

"We would like to assure that there is no impact on the company's business operations, financial performance or its future deliveries," the statement continued as the stock decreased approximately 8 percent to Rs 4,205 on the BSE.

On the NSE, HAL shares dropped 4 percent, reaching a daily low of Rs 4,405.

"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," the statement added.

Following the Tejas jet crash on the final day of the Middle East's largest aviation event, which began on Monday, the company expressed deep sadness regarding the loss of the "courageous IAF pilot."

The fighter jet, a single-seat Light Combat Aircraft (LCA), had reportedly been airborne for approximately eight minutes and completed two to three circuits when it entered a nose-dive at around 2:15 pm local time.

It is believed that the pilot was unable to recover from a negative-G maneuver executed at low altitude.

The aircraft belonged to a squadron based in Tamil Nadu's Sulur and had been in active service since 2016.

"A court of inquiry is being constituted to ascertain the cause of the accident," the Indian Air Force announced in an official statement.

This incident marks the second crash involving a Tejas aircraft in less than two years. In March 2024, a Tejas fighter jet crashed in Rajasthan's Jaisalmer, which was the first such accident in the aircraft's 23-year operational history since its maiden test flight in 2001. In that previous incident, the pilot successfully ejected and survived.