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Boeing trading lower after crash in India involving a 787-8 Dreamliner

An Air India flight bound for London Gatwick has crashed less than 10 minutes after taking off from Ahmedabad Airport. Footage on social media appears to show a plane losing altitude shortly after takeoff. Per a statement from the Directorate General of Civil Aviation, the aircraft issued a “mayday” call before crashing.

In a statement on X, Natarajan Chandrasekaran, chairman of Air India, said:

“With profound sorrow I confirm that Air India Flight 171 operating Ahmedabad 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.”

According to the BBC, the plane — a Boeing 787-8 Dreamliner — was carrying more than 240 people onboard when it took off at 1:38 p.m. local time. Though the cause of the tragic incident is as yet unknown, Boeing shares sank as much as 7.8% in premarket trading on Thursday. According to the Aviation Safety Network, this is the first ever crash of a Boeing 787.

In a statement on X, Natarajan Chandrasekaran, chairman of Air India, said:

“With profound sorrow I confirm that Air India Flight 171 operating Ahmedabad 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.”

According to the BBC, the plane — a Boeing 787-8 Dreamliner — was carrying more than 240 people onboard when it took off at 1:38 p.m. local time. Though the cause of the tragic incident is as yet unknown, Boeing shares sank as much as 7.8% in premarket trading on Thursday. According to the Aviation Safety Network, this is the first ever crash of a Boeing 787.

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Starbucks sells control of China business for $4 billion

Starbucks disclosed on Monday evening in a regulatory filing that it will sell control of its ailing China business to Boyu Capital for about $4 billion.

Under the agreement, Boyu will own a 60% stake in the China segment, which will become a joint venture between Boyu and Starbucks. The coffee chain will retain a 40% interest in the entity and will continue to own and license the brand and intellectual property.

Bloomberg reported earlier this year that the company was looking to sell its China segment. The American coffee giant has struggled to succeed in China, its second-largest market after the US.

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