French intelligence official confirms downing of Rafale by Pakistan: CNN

A senior French intelligence official has confirmed to CNN that one Indian Air Force Rafale fighter jet was shot down by Pakistan, marking what could be the first known combat loss of the French-made aircraft.

The confirmation comes after Pakistan shot down five Indian fighter jets in retaliation for India's missile attack early Wednesday morning. Accoding to DG ISPR Lieutenant General Ahmed Sharif Chaudhry, India carried out 24 airstrikes on six different locations inside Pakistani territory.

He further said that, In response, Pakistan army downed five Indian fighter jets and one combat drone in response to unprovoked aggression and airspace violations.

Read More: Pakistan downs five Indian fighter jets in retaliation for India's missile attack

According to the military spokesperson, the aircraft shot down included three Rafale jets, one MiG-29, one SU-series aircraft, and an Israeli-made Heron combat drone. The jets were downed in multiple locations, including Bhatinda, Jammu, Akhnoor, Srinagar, and Avantipur.

According to CNN, French authorities are now investigating whether additional Rafale aircraft were also brought down during the overnight military exchange. “We are aware of the loss of one Rafale and are examining reports suggesting more could have been downed,” the French official told CNN.

Images circulating from the crash site in Indian Illegal Occupied Jammu and Kashmir (IIOJ&K) appear to show debris with French manufacturing labels. However, aviation experts cautioned that it is too early to confirm if the wreckage belonged to a Rafale jet.

“There are identifiable parts from a French supplier,” one analyst told CNN, “but it's inconclusive whether they are from a Rafale.”

Read More: Shares of J-17 jet manufacturer soar after Pakistan downs Indian Rafale jets

After reports emerged that Rafale jets were shot down by the Pakistan Air Force (PAF) early in the morning, shares of France’s Dassault Aviation — the maker of the Rafale fighter jet — dropped at the Paris Stock Exchange. The company’s stock had declined by EUR 5.40, or 1.64%, to EUR 324.

Overall, defence analysts noted Dassault's stock could fall by a further 5% amid scrutiny over the Rafale’s battlefield performance.

The sharp contrast in investor sentiment could be a sign of global market confidence in the capabilities of PAF and performance of the JF-17 and J-10C jets, developed in cooperation with China.