WASHINGTON, D.C. — A commercial jet en route to Tel Aviv lost roughly 17,000 feet—about 5,200 metres—within two minutes before pilots declared an emergency and diverted the aircraft to a nearby airport, according to a passenger who described the event as a “rollercoaster”.

The flight, operated by SkyBridge Airways on Flight SB752, departed Newark at 22:15 GMT on Tuesday and climbed to a cruising altitude of 35,000 feet. At approximately 22:46 GMT, the aircraft abruptly descended to 18,000 feet, a drop of 17,000 feet recorded by the flight data recorder within a 115‑second interval.

“It felt like we were on a rollercoaster that had lost its brakes,” said Maya Levin, a 34‑year‑old marketing executive from New York, who was seated near the front. “One moment we were cruising, the next the cabin shook, and the lights flickered as the altitude plummeted.”

SkyBridge Airways issued a statement the following morning, saying the incident triggered an immediate investigation in cooperation with the Federal Aviation Administration and Israel’s Civil Aviation Authority. The carrier affirmed that all safety systems functioned as designed and that no injuries were reported among the 182 passengers and crew.

Within hours, shares of SkyBridge fell 4.2 percent on the New York Stock Exchange, wiping out roughly $1.3 billion in market value. Travel‑insurance providers reported a spike in claims related to flight‑disruption coverage, while hedge funds with exposure to airline debt noted heightened risk premiums in the sector.

U.S. lawmakers have called for a review of altitude‑change monitoring protocols, citing potential gaps in real‑time data sharing between carriers and regulators. Analysts predict that stricter oversight could raise operational costs for airlines serving high‑risk routes, potentially influencing ticket pricing for business travelers to the Middle East.

Key Takeaways

• Rapid altitude loss prompted immediate regulatory scrutiny and could lead to tighter monitoring standards.
• SkyBridge’s stock decline illustrates how safety incidents translate quickly into investor risk assessments.
• Potential policy changes may increase operating costs, affecting airfare and corporate travel budgets to the region.

The incident underscores how a single safety event can ripple through markets, regulatory agendas, and corporate strategies, prompting investors to reassess risk models for aviation assets worldwide.