Introduction to JBS

The JBS Greeley meatpacking facility in Greeley, Colorado, US, on Friday, Feb. 28, 2025.
Shares of Brazilian meat giant JBS rose during their U.S. public market debut on Friday.

Initial Public Offering

The opening trade of $13.65 per share values the company at roughly $30 billion, outstripping rival Tyson Foods’ market cap of about $19.82 billion. Shares closed at $13.87, a slight gain for the day.
JBS is now trading on the New York Stock Exchange under the ticker "JBS," a day later than initially expected. The company said it couldn’t conclude certain operational procedures in time to debut on Thursday. Its stock was delisted from the Sao Paolo Exchange in Brazil a week ago as part of the dual-listing plan.

Company Overview

Since its founding more than seven decades ago, JBS has grown to become the world’s largest meatpacking company. Last year, the company reported net revenue of $77.2 billion and net income of $2 billion, according to regulatory filings.
JBS operates a sprawling business worldwide, with significant divisions in Brazil, the U.S. and Australia. The company also owns more than 80% of Pilgrim’s Pride, the U.S. poultry giant.

History of the US Listing

JBS’s U.S. listing is more than 15 years in the making. The company’s U.S. subsidiary first announced plans to go public in 2009, but the move never came to fruition after two postponements. Then, in late 2016, the company said it would have a U.S. initial public offering as part of a broader reorganization strategy. But months later, the Brazilian government began investigating corruption in the meatpacking company — including among JBS and its top executives.

Corruption and Bribery Allegations

J&F Investimentos, the holding company that owns a controlling stake in JBS, paid a $3.2 billion fine in 2017 to settle bribery charges. Former chair Joesley Batista and his older brother CEO Wesley Batista, the company’s top shareholders and the sons of its founder, managed to avoid prison sentences by cooperating with prosecutors. The Batistas and J&F settled with the U.S. Securities and Exchange Commission in 2020 for roughly $27 million.
The Batistas exited J&F in the wake of the scandal. However, they returned to the company’s board last year after being acquitted of insider trading charges.

Recent Developments

More recently, in October, the Brazilian government fined JBS for buying cattle that were allegedly illegally raised in protected land in the Amazon.
The company’s history of corruption and bribery allegations led to opposition to its U.S. listing from lawmakers on the both sides of the aisle, making it look unlikely that regulators would grant their approval.
After President Donald Trump’s reelection, JBS’s subsidiary Pilgrim’s Pride donated $5 million to his inauguration committee, making it the single largest donor. In a statement, the company said it had a "long bipartisan history participating in the civic process" and looked forward to working with the new administration.
The SEC approved JBS’s request to list on the New York Stock Exchange in April. JBS shareholders approved the move by a narrow margin the following month.

Conclusion

In conclusion, JBS has finally made its US public market debut, with shares rising during the first day of trading. The company’s history of corruption and bribery allegations has been a major obstacle to its US listing, but it has now overcome this hurdle. With its significant divisions in Brazil, the US, and Australia, JBS is well-positioned for future growth.

FAQs

Q: What is JBS?
A: JBS is the world’s largest meatpacking company, with significant divisions in Brazil, the US, and Australia.
Q: What was the initial public offering price of JBS shares?
A: The opening trade of $13.65 per share values the company at roughly $30 billion.
Q: Why was JBS’s US listing delayed?
A: JBS’s US listing was delayed due to the company’s history of corruption and bribery allegations, as well as opposition from lawmakers.
Q: Who are the major shareholders of JBS?
A: The Batista family, including Joesley and Wesley Batista, are the top shareholders of JBS.
Q: What is the current market capitalization of JBS?
A: The current market capitalization of JBS is roughly $30 billion.

Introduction to the Incident

At least 241 people were killed when an Air India Boeing 787 Dreamliner crashed into a residential area moments after takeoff from Ahmedabad in western India, the carrier said. There was a sole survivor from the plane who was taken to a local hospital, the airline said. The plane was bound for London Gatwick Airport.

Details of the Crash

Video posted on social media appeared to show the jetliner descending followed by a fireball and a dark plume of smoke. It marks the first fatal crash of Boeing’s 787 Dreamliner plane. There were 242 people on board the more than 11-year-old aircraft: 230 passengers and 12 crew members, Air India said. Others on the ground were also killed, local officials told some media outlets.

Casualties and Response

"Approximately 294 have died. This includes some students as the plane crashed on the building where they were staying," Vidhi Chaudhary, a top state police officer, told Reuters. The signal from Air India Flight 171 was lost at 1:38 p.m. local time, less than a minute after takeoff, flight tracking site FlightRadar24 said. Those on board included 169 Indian nationals, 53 British nationals, seven Portuguese nationals, and one Canadian. The survivor is a British national originally from India, the carrier said.

Investigation and Support

Initial flight-path data "shows that the aircraft reached a maximum barometric altitude of 625 feet (airport altitude is about 200 feet) and then it started to descend with an vertical speed of -475 feet per minute," Flightradar said. The Boeing 787-8 Dreamliner is a top-selling wide-body aircraft used on longer routes. The aircraft was delivered to Air India in 2014, according to Flightradar24. The cause of the crash and why the plane lost altitude so quickly weren’t immediately known and could take months to determine.

Reactions from Boeing and Air India

The U.S. National Transportation Safety Board said it will send a team of investigators to India. "We understand people are eager for information, and please know that we will continue to share accurate and timely information as soon as we can," CEO Wilson said. Boeing CEO Kelly Ortberg said in a statement, "Our deepest condolences go out to the loved ones of the passengers and crew on board Air India Flight 171, as well as everyone affected in Ahmedabad." Ortberg said he spoke with Air India Chairman N. Chandrasekaran "to offer our full support, and a Boeing team stands ready to support the investigation led by India’s Aircraft Accident Investigation Bureau."

Impact and Aftermath

The plane was powered by two GE Aerospace engines. "We extend our heartfelt sympathies to the families and loved ones of those impacted," a GE spokesperson said. GE is postponing its investor day that was scheduled for next week. Flights at Sardar Vallabhbhai Patel International Airport, where the flight took off from, were temporarily suspended in the wake of the crash and resumed a few hours later, according to India’s government press bureau.

Conclusion

The crash of Air India Flight 171 is a tragic incident that has resulted in significant loss of life. The investigation into the cause of the crash is ongoing, and it may take months to determine the exact cause. The incident has sparked an outpouring of support from Boeing, Air India, and other organizations, and the aviation industry will be watching closely as the investigation unfolds.

FAQs

Q: What type of plane was involved in the crash?
A: The plane involved in the crash was a Boeing 787 Dreamliner.
Q: How many people were on board the plane?
A: There were 242 people on board the plane, including 230 passengers and 12 crew members.
Q: What was the destination of the flight?
A: The flight was bound for London Gatwick Airport.
Q: How many people were killed in the crash?
A: At least 241 people were killed in the crash.
Q: Is the cause of the crash known?
A: The cause of the crash is not yet known and is being investigated.
Q: Will there be an investigation into the cause of the crash?
A: Yes, an investigation into the cause of the crash is ongoing, led by India’s Aircraft Accident Investigation Bureau.
Q: How has Boeing responded to the crash?
A: Boeing has expressed its condolences to the families of the victims and has offered its support to the investigation.
Q: What is the status of the survivor?
A: The sole survivor of the crash is a British national originally from India, who is being treated at a local hospital.

A view shows the wreckage of an Air India aircraft, bound for London’s Gatwick Airport, which crashed during take-off from an airport in Ahmedabad, India June 12, 2025. An Air India plane that was bound for London and carrying 242 people crashed seconds after takeoff in western India on Thursday, killing all but one person on board the Boeing 787 Dareamliner. It marked the first crash of a Boeing 787 Dreamliner and was the deadliest plane crash in years.

What Kind of Plane Was It?

The aircraft was a Boeing 787-8 Dreamliner. It is a popular twin-aisle jet used for longer routes. This plane’s first flight was in December 2013 and it was handed over to Air India in January 2014, according to aviation-data firm Cirium. Air India had 34 of them in service as of Thursday, including this plane, and it had plans to order at least 20 more, Cirium said. The airline has been building up its fleet with modern jets from both Boeing and rival Airbus, and installing more luxurious cabins. There are more than 1,100 Dreamliners flying worldwide.

What Happened on This Flight?

Preliminary data show the signal from the plane was lost at 1:38 p.m. local time, less than a minute after takeoff from Ahmedabad’s Sardar Vallabhbhai Patel International Airport, according to flight-tracker Flightradar24. The aircraft reached maximum altitude of 625 feet, though airport altitude is about 200 feet, Flightradar noted. It is not clear why the plane so quickly lost altitude before it crashed into a fireball in a residential area. Other fatalities on the ground have been reported to local media. Air crashes can be caused by a variety of factors, from mechanical issues to wildlife to pilot error, and often involve more than one problem.

What Will Investigators Look At?

Responders will comb the rubble for the so-called black boxes: the cockpit and flight-data recorders. Those will give crash investigators clues about what was happening on the flight. Crash investigators will look at everything from the airline’s maintenance records to the pilots’ maneuvers, the position of the aircraft as well as slats and flaps on the wings, the pilots’ training and recent rest, and weather conditions on the hot day, when temperatures were near 100 degrees Fahrenheit. They will also examine video from the incident, including footage of the aircraft taking off from Ahmedabad. Under international protocols, the country where the incident occurred will lead the investigation while the plane’s manufacturer, Boeing, and the aircraft’s engine maker, GE Aerospace, as well as U.S. federal crash investigators will participate.

Previous Manufacturing and Quality Concerns

It is not immediately clear, and a final report on the crash causes might not be available until next year, but some experts brushed off a manufacturing issue, in part because the plane has been flying for more than a decade. “I don’t think this is a manufacturing or production issue,” said Jeff Guzzetti, a retired air safety investigator with the U.S. National Transportation Safety Board and the Federal Aviation Administration. He said it is too early to tell what the problem — or problems — is, as air crashes often involve several failures. “It appears the airplane got off the runway with no problem but for some reason was unable to climb,” he said. Boeing has had problems with the Dreamliner before, but an immediate connection wasn’t apparent, experts said.

Impact on Boeing

Boeing CEO Kelly Ortberg, who took the reins last August, has been working to move the manufacturer, a top U.S. exporter, out of the spotlight for a series of safety and manufacturing crises. The company had already been reeling from two crashes of its best-selling 737 Max jets when a door plug blew out of a new Max 9 in early 2024. The impact on Boeing will depend on the crash investigation. Demand for new planes has still been robust, and airlines often continue to place orders because the waiting period can stretch several years. Wolfe Research said in a note on Thursday that “we don’t see much direct impact on financial performance, but this is certain to sap momentum until some solid clarity is provided. We don’t see any impact to the production ramp as a result of this and would expect any impact on demand to be very minimal (and localized) as well,” Wolfe wrote. “A modest risk could be any feedback loop to certification of the [yet-to-be-certified] 777X, but it is very early to size any risk there.” Boeing has orders for 900 more Dreamliners, according to its website.

Conclusion

The crash of the Air India Boeing 787 Dreamliner is a tragic incident that has resulted in the loss of many lives. The investigation into the cause of the crash is ongoing, and it may take some time to determine the exact factors that contributed to the accident. The impact on Boeing will depend on the outcome of the investigation, but it is likely to have some effect on the company’s reputation and future orders.

FAQs

Q: What type of plane was involved in the crash?
A: The plane involved in the crash was a Boeing 787-8 Dreamliner.
Q: How many people were on board the plane?
A: There were 242 people on board the plane.
Q: What is the current status of the investigation?
A: The investigation into the cause of the crash is ongoing, and it may take some time to determine the exact factors that contributed to the accident.
Q: Has Boeing had any previous issues with the Dreamliner?
A: Yes, Boeing has had some issues with the Dreamliner in the past, including manufacturing flaws and concerns about lithium battery fires.
Q: How will the crash affect Boeing’s future orders?
A: The impact on Boeing’s future orders will depend on the outcome of the investigation, but it is likely to have some effect on the company’s reputation and future orders.