HAL calls Tejas crash an 'isolated' case, assures cooperation in probe

Tejas fighter jet maker Hindustan Aeronautics Limited (HAL) said on Monday, November 24, that the crash of the fighter jet in Dubai Air Show that killed its pilot is an "isolated" case that will not dampen the company's business performance. 

Shares fell 2.58% from the day's opening and trading at ₹4595 apiece as of 1:15 pm. It's been on the downward trend since the Friday (November 21) crash. 

HAL also said that is cooperating with ongoing investigation and that all stakeholders will be informed of

any "material developments".

"We would like to bring to your attention that the recent incident during the aerial display at the Dubai Air Show is an isolated occurrence arising out of exceptional circumstances," HAL said in a regulatory exchange filing. 

The tragic crash, however, will not impact HAL's business operations, financial performance or its future deliveries, the company said.

The Friday crash in Dubai was only the second known incident involving the LCA Tejas fighter jet and the first in which a pilot was killed. Indian Air Force (IAF) confirmed Wing Commander Namansh Syal's death and initiated a probe on the same day.

HAL said it has extended full support and cooperation in the investigation. 

The Defence Ministry had placed an order for 97 Tejas fighter jets as it is expected to replace MiG-21 jets, which were retired on September 26 after serving the IAF for over six decades. 

Also Read: Wg Commander Afshan salutes husband Namansh Syal, who died in Tejas crash