Quinn te Samil | Friday Reflections,*
June 13, 2025
I. Ashes in Ahmedabad — The Fragile Sky
In the dry heat of Gujarat, a tragedy unfolded midair. Air India Flight 171, a Boeing 787 Dreamliner, plummeted shortly after takeoff from Ahmedabad, killing 241 people onboard and at least 28 more on the ground when it collided with a medical college hostel. One lone survivor, a British student, remains in intensive care.
Among the dead was former state leader Vijay Rupani, and with that, India's political and emotional core shook.
But beyond grief, the crash reignites a simmering crisis for Boeing. This marks yet another 787 incident, a model already shadowed by technical scrutiny. Shares dipped as questions resurfaced about production oversight, quality control, and the lingering legacy of deferred accountability. For Air India, now under Tata’s stewardship, it is a reputational rupture they did not cause—but must now carry.
As India buries its dead, investigators sift through debris. What failed—mechanics, maintenance, or something else entirely?
II. Lions and Shadows — Israel Strikes, Iran Burns
On Thursday, the region's thinnest line snapped. Israel launched "Operation Rising Lion", striking deep into Iranian nuclear and military complexes. Among the dead: IRGC commander Hossein Salami, Chief of Staff Mohammad Bagheri, and several senior nuclear scientists.
Iran retaliated with drones—over a hundred—most of which were intercepted. But the choreography of war has begun.
This was not a skirmish. It was an assassination of capacity. A surgical rewriting of deterrence. For Israel, the objective was clear: halt Iran’s capability to build. For the world, the implications are murky and manifold. Global powers urged restraint, but markets shuddered and oil surged. And still, Tel Aviv and Tehran remain locked in the rhythm of retribution.
One wonders—who gains when the region bleeds?
III. Markets in Shock — Oil, Fear, and Fragility
The conflict in the Middle East brought more than airstrikes—it brought volatility. Oil prices jumped nearly 13%, the sharpest spike in four months. WTI and Brent flirted with the $78 mark as traders priced in risk across the Strait of Hormuz.
Energy stocks soared, but aviation and shipping recoiled. Indian energy firms dropped, fearing a prolonged crude climb. Equity markets staggered, gold rallied, and investors reached for the security of the old havens—bonds, dollars, and doubt.
War, it seems, is the only inflation hedge that still works.
Until next week,
QTS
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