Tejas fighter jet crash has no impact on biz: HAL

Mumbai: Hindustan Aeronautics Ltd (HAL) said in a stock exchange filing on Monday that the crash of its Tejas fighter jet at the Dubai Airshow was an “isolated occurrence arising out of exceptional circumstances.”

“We assure that there is no impact on business operations, financial performance and future deliveries” of the aircraft, HAL further stated.

The defence PSU also said that it was “extending full support and cooperation to agencies conducting the investigation.”

The price of HAL shares fell by nearly 9 per cent in the early trading hours on Monday following the crash of the Tejas multirole fighter jet, manufactured by the company, at the Dubai air show on Friday, in which an IAF officer also died. The HAL stock price declined to a 7-month low of Rs4,205.25 per share on the BSE in the morning trading hours.

The fighter jet crashed while performing low flying manoeuvres in front of a large audience on Friday afternoon and went up in flames after hitting the ground near the runway of the Al Maktoum International Airport in Dubai.

Tejas is single-engine, 4.5-generation multirole combat aircraft with a delta wing design.