Shares of Dassault Aviation plunged by 6% on Tuesday. The sharp drop came after Pakistan claimed its air force had shot down several Indian aircraft, including three Rafale jets. These events unfolded amid rising military tensions near the Line of Control (LoC).
Pakistani defence officials revealed new details about the incident. According to senior sources, six Indian aircraft were destroyed. These included three Rafale jets, one MiG-29, one SU-30 fighter, and a Heron drone. All Indian aircraft, they claimed, remained within Indian airspace but tried to strike targets in Pakistan using stand-off weapons.
A spokesperson for Pakistan’s military confirmed the situation. “None of our aircraft was hit. Every unit returned safely,” the official stated. The Pakistan Air Force (PAF) emphasized its readiness and pledged to protect national airspace under any circumstances.
Officials provided further clarity on the crash zones. One Rafale and the SU-30 went down near Ahmedpur East, Bahawalpur. Another Rafale jet was shot down near Awantipora, Pulwama. The location was just 17 nautical miles from the LoC. The Israeli-made Heron drone was destroyed in a separate interception, sources added.
India, however, denied all losses. Indian news outlets, citing unofficial sources, claimed that Pakistani fighter jets were also downed in a retaliatory strike. Pakistan rejected these claims outright. Defence officials in Islamabad called them “false, misleading, and designed to divert attention.” One military official told Dawn, “No Pakistani aircraft has been hit. These are just propaganda tactics.”
Speaking at a press briefing in Islamabad, Information Minister Attaullah Tarar strongly denied any Pakistani link to the Pulwama attack. He also commented on the Pahalgam incident. “We are not behind the Pulwama episode,” Tarar said. “We’ve offered full cooperation in the investigation, but India attacked without waiting for facts.”
Tarar criticised India’s internal handling of the Pulwama blast. “An FIR was lodged within 10 minutes, but security forces arrived after an hour,” he noted. He also praised the Pakistan Air Force for bringing down “enemy aircraft in a short time.”
The Pakistan Air Force has asserted full air dominance. The PAF warned that any future aggression would meet a swift, forceful reply. “We don’t want war, but we’ll defend our skies with full strength,” said a military spokesperson.
The destruction of multiple Rafale jets triggered waves in the international defence market. Dassault Aviation’s stock, closely tied to the jet’s reputation, took a heavy blow. Concerns over the aircraft’s reliability and India’s air strategy rattled investor confidence.
Tensions between India and Pakistan remain high. Diplomatic talks are at a standstill. Both sides continue to exchange accusations through official briefings and media platforms. For now, the Rafale jets at the centre of the conflict have become symbols of both military power and political embarrassment.
