Shares of the Rafale fighter jet manufacturer crashed in global markets, shortly after reports confirmed that Pakistan had downed multiple Indian military aircraft, including Rafale jets operated by the Indian Air Force.
The French-built combat jets are seen as a symbol of India’s military capability. Investors reacted swiftly amid growing questions over the aircraft’s performance and rising regional tension.
On Tuesday night, Pakistan’s Defence Minister, Khawaja Asif confirmed that the country successfully shot down six Indian fighter jets, including three Rafale jets, in response to India’s missile strikes on multiple locations in Pakistan and Pakistan-administered Kashmir. The Indian strikes, which targeted what India claimed were terrorist infrastructures connected to a deadly April attack in Pahalgam, have escalated tensions between the two nuclear-armed nations.
In retaliation, Pakistan reported shooting down five Indian Air Force combat jets and a drone. Additionally, Pakistan’s security forces claimed to have destroyed an Indian brigade headquarters and captured an unspecified number of Indian soldiers. The Pakistani military also reported the downing of a Rafale fighter jet near Ahmedpur East in Bahawalpur. India, on the other hand, claimed to have shot down a Pakistani fighter jet in Pampore. The situation remains tense, with both sides accusing each other of unprovoked aggression.
The international community has expressed concern over the escalating conflict. The United Nations Secretary-General António Guterres called for military restraint, emphasizing that “the world cannot afford a military confrontation between India and Pakistan.” Similarly, President Donald Trump described the strikes as “a shame” and urged for a swift resolution to prevent further escalation.
As of now, both countries have declared states of emergency in affected regions, suspended commercial flights, and are on high alert. Diplomatic efforts are underway, but the situation remains volatile.
