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On Sunday, India issued its first official response after reports emerged that a Rafale fighter jet, part of the country's prized air fleet, was allegedly shot down by a Chinese-made Pakistani aircraft.

What Happened: The unverified incident, which sent shockwaves across defense circles, rattled the investors, with shares of French manufacturer Dassault Aviation plunging amid growing scrutiny over the jet’s battlefield performance

On Friday, U.S. officials confirmed that a Chinese-made J-10 aircraft fired air-to-air missiles at Indian fighter jets. One of the Indian jets shot down was a French-built Rafale fighter, while Pakistan’s U.S.-made F-16s, produced by Lockheed Martin (NYSE:LMT), were not involved in the incident, reported Reuters.

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Pakistan’s Defense Minister, Khawaja Muhammad Asif, claimed that the J-10 was used to shoot down three Rafale planes, newly acquired by India. Pakistan asserts to have downed five Indian planes in total.

On Sunday, Air Marshal A.K. Bharti responded in a press conference regarding the same. “We are in a combat scenario and losses are a part of it. All our pilots are back home,” stated Bharti.

Notably, the Indian military gave no clear answer on this.

The incident led to a decline in shares for Rafale manufacturer Dassault Aviation (OTC:DUAVF). The European listed stock has fallen nearly 10% in the last 5 days. On Friday, the U.S.-listed ADRs closed lower by more than 3.6%. Over the past five days, the ADR lost 4.42% of its value.

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Why It Matters: The incident has piqued the interest of air warfare communities worldwide, eager to understand the tactics, techniques, and procedures used in the confrontation. Washington is closely analyzing the jet's performance against a Western adversary, seeing it as a potential indicator of how Beijing might fare in a conflict over Taiwan or across the broader Indo-Pacific.

The incident comes amid escalating tensions between India and Pakistan. On May 7, India launched missile strikes into Pakistani-controlled territory as part of Operation Sindoor to avenge the alleged killings of tourists reportedly by a Pakistani terror group in Pahalgam, Kashmir.

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Following this, a U.S.-brokered ceasefire was announced by President Donald Trump. However, the ceasefire was short-lived as explosions in Srinagar and Jammu raised doubts about the truce’s longevity.

The two nations are set to hold talks on Monday.

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This article India Breaks Silence After Rafale Jet Reportedly Downed By Pakistan's Chinese-Made Fighter — Triggering Sell-Off In Dassault Aviation Stock: 'Losses Are A Part Of...' originally appeared on Benzinga.com

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