AsianFin -- Boeing stock dropped sharply in premarket trading Thursday following the crash of an Air India 787 Dreamliner—believed to be the first fatal incident involving the aircraft model.

The 11-year-old jet lost radar contact shortly after departing Ahmedabad for London Gatwick, with 242 people on board. Air India confirmed the incident, and rescue operations are ongoing.

As of 6:15 a.m. ET, Boeing shares were poised to open 7.5% lower. The stock had closed Wednesday at $214, up nearly 25% year-to-date before the crash news broke.