Hindustan Aeronautics Limited (HAL) has addressed concerns surrounding the recent crash of an Indian Air Force (IAF) Tejas fighter jet during the Dubai Airshow 2025, asserting that the incident is isolated and occurred under exceptional circumstances. The company emphasized that this tragic event would not affect its operations, financial performance, or future deliveries of the aircraft.
The statement follows the devastating loss of Squadron Leader Naman Syal, the pilot who lost his life when the Tejas light combat aircraft (LCA) crashed while performing an aerial display at Al Maktoum International Airport. In an official communication to the Bombay Stock Exchange (BSE), HAL stated, “The recent incident during the aerial display is an isolated occurrence arising out of exceptional circumstances… there is no impact on the company’s business operations, financial performance or its future deliveries. The company is extending its full support and cooperation to the agencies conducting the investigation.”
HAL further clarified that this crash should not be taken as a statement on the aircraft’s overall performance, highlighting that the Tejas has successfully participated in multiple international airshows prior to this incident.
The crash occurred around 2:10 pm local time on Friday during a high-speed maneuver, causing the aircraft to dive suddenly towards the ground and explode in a fireball. Eyewitness videos captured the shocking moments as the aircraft rapidly lost altitude before crashing, leaving onlookers and the global aviation community in disbelief. The Tejas LCA, equipped with a General Electric engine, has been a pivotal asset in India’s defense diplomacy and export initiatives. In light of the tragedy, the IAF has launched a court of inquiry to investigate the circumstances surrounding the crash.
Squadron Leader Naman Syal, a highly-regarded and decorated fighter pilot from Kangra in Himachal Pradesh, is mourned by the armed forces and the broader aviation community, who have expressed their condolences following his untimely demise.
The aftermath of the crash has also had financial implications for HAL. The company’s stock has faced pressure, declining approximately 8% over the past five days. Trading at ₹4,450.70 as of 1:40 pm on Monday, HAL shares were down by 3.14%. Analysts indicated that this drop is likely driven by market sentiment, although they noted that HAL’s fundamentals and order book remain robust, suggesting resilience in its operations amidst external challenges.
