Dassault Aviation’s Shares Fall After Pakistan Shoots Down Indian Jets, Including Rafale
Shares of Dassault Aviation, the French company behind the Rafale fighter jet, dropped sharply by 6% on Wednesday. This decline came in the wake of a reported military encounter where Pakistan’s Air Force (PAF) claimed to have shot down six Indian aircraft, including three Rafale jets, amid rising tensions along the Line of Control (LoC).
Pakistan’s Claim of Aircraft Destruction
According to senior Pakistani defense officials and high-level security sources, six Indian aircraft were destroyed in the encounter, including three Rafale jets, one MiG-29, one SU-30, and a Heron surveillance drone. The aircraft were reportedly flying within Indian airspace but were attempting to strike Pakistani territory using stand-off munitions.
A Pakistani military spokesperson confirmed the success of the operation, stating that none of Pakistan’s aircraft were damaged, and all units safely returned to base. The spokesperson emphasized the Pakistan Air Force’s operational readiness and commitment to safeguarding the country’s airspace.
Crash Sites Near Bahawalpur and Pulwama
According to officials, two of the Rafale jets and the SU-30 were brought down near Ahmedpur East, Bahawalpur, on the Indian side of the border. Another Rafale was reported downed southwest of Awantipora, in Pulwama district, around 17 nautical miles from the LoC. The Heron drone was intercepted and neutralized in a separate operation.
India Denies Losses, Claims Pakistani Jets Were Shot Down
Meanwhile, Indian media, citing unofficial sources, reported that Pakistani jets were shot down in retaliation. However, Pakistan’s defense officials have strongly denied these claims, labeling them “baseless, fabricated, and an attempt to mislead the public amid mounting pressure.” A Pakistani military official rejected the reports, calling them diversionary tactics.
Read More: https://theneutral.pk/india-strikes-and-damages-neelum-jhelum-dam-claims-ispr-chief/
Pakistan Offers Cooperation on Pulwama Investigation
Amid the escalating India-Pakistan conflict, Information Minister Attaullah Tarar reiterated Pakistan’s stance on the Pulwama attack, asserting that Pakistan had no role in the incident. He further emphasized Pakistan’s willingness to cooperate in the investigation of the Pahalgam incident, which Indian authorities had linked to Islamabad. Tarar also criticized India’s internal response, pointing out the rapid registration of an FIR but the delayed arrival of security forces.
PAF Warns Against Further Provocation
The Pakistan Air Force reiterated its air superiority, warning that any further provocation from across the border would result in a “swift and proportionate response.” The PAF spokesperson stated, “Our message is clear. We do not seek war, but we are fully prepared to defend every inch of our territory.”
Market Reaction to Rafale Jet Performance Concerns
The news of multiple fighter jets being shot down triggered an immediate market reaction. Dassault Aviation’s stock took a significant hit, reflecting concerns over the performance of the Rafale jet and the broader implications for India’s military strategy and posture.
Escalating Tensions and Diplomatic Deadlock
The latest developments have pushed the region to a precarious threshold, with diplomatic communication between New Delhi and Islamabad remaining frozen. Both countries have exchanged blame through official and media channels, further exacerbating the already volatile situation.
