The shares of Dassault Aviation - the French company behind the Rafale fighter jet- fell sharply by 6% on Wednesday.

This development came after Pakistan’s air force shot down 5 Indian aircraft, including three Rafale jets in the wake of rising military tensions along the Line of Control (LoC).

Pakistan says Indian jets intercepted before crossing airspace

According to senior Pakistani defence officials and high-level security sources, a total of six Indian aircraft were destroyed during the encounter: three Rafale jets, one MiG-29, one SU-30, and a Heron surveillance drone.

All aircraft were reportedly flying within Indian airspace but attempting to strike Pakistani territory using stand-off munitions.

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“None of our aircraft suffered any damage. All units returned safely to base,” a Pakistani military spokesperson confirmed, emphasizing the PAF’s operational readiness and commitment to safeguarding Pakistan’s airspace.

Crash sites near Bahawalpur and Pulwama, say officials

Officials added that a Rafale and an SU-30 were brought down near Ahmedpur East, Bahawalpur on the Indian side of the border. Another Rafale was reported downed southwest of Awantipora, Pulwama district, around 17 nautical miles from the Line of Control.

The Heron drone was intercepted and neutralized in a separate operation, sources said.

India denies losses, claims Pakistani jets were downed

Meanwhile, Indian media outlets, quoting unofficial sources, have claimed that Pakistani fighter jets were also shot down in retaliation. However, Pakistan’s defence officials have strongly denied the reports, calling them “baseless, fabricated, and an attempt to mislead the public amid mounting pressure.”

“No Pakistani aircraft was hit. These are diversionary tactics,” a Pakistani military.

Amid the escalating India-Pakistan conflict of 2025, Information Minister Attaullah Tarar said Pakistan has no role in the Pulwama attack and reiterated the government’s stance of full cooperation in investigating the Pahalgam incident, which Indian authorities have linked to Islamabad.

“In a very short span of time, we brought down enemy aircraft,” Tarar said during a press briefing in Islamabad. “Our hands are clean in the Pulwama incident, and we are actively combating terrorism. Despite our offer to cooperate, India launched attacks without investigating.”

Tarar also criticised India’s internal response, noting that an FIR was registered within 10 minutes, but security forces arrived nearly an hour later.

PAF maintains air dominance, warns against further provocation

The Pakistan Air Force (PAF) has reiterated its air superiority, warning that any further provocation from across the border would be met with “a swift and proportionate response.”

“Our message is clear. We do not seek war, but we are fully prepared to defend every inch of our territory,” a PAF spokesperson said.