A Ukrainian Boeing 737 plane with over 170 people on board crashed shortly after it had taken off from Tehran International Airport.

The airline Ukraine international airlines states that the plane was built in 2016 and had undergone a safety check without remarks as of January 6.

Negative for Boeing

The current aircraft type, the Boeing 737-800, is one of the most common in the world. The plane's control system also differs from the earlier accident-hit Boeing 737 Max planes involved in the fatal crashes in Ethiopia and Indonesia.

- Actually, there is no reason to question the type of aircraft, nor the airline. Ukraine international airlines have very good reputation and skilled pilots who can handle difficult situations, says flight expert Jan Ohlsson.

Although the current aircraft model is one of the safer models, it is still not good with all the negative focus that has been around Boeing lately, says Jan Ohlsson.

- This could very well have a negative effect on Boeing's share.

And in pre-market trading on Wall Street, the Boeing share is down about two percent, according to CNBC.

Affects the flight shares

Several airlines, including Air France, KLM, Lufthansa, Quantas and Japan airlines cancel their flights over Iranian and Iraqi airspace.

SAS has also canceled a flight to Beirut, which would have departed this afternoon due to the plane crash in Iran.

In addition, the accident could hit several of the major airline shares, according to Jan Ohlsson.

- The combination today with the accident, the latest attacks, rising fuel prices is a nightmare scenario, and it will probably drag down the airline shares for a while, he says.

- It probably affects everyone, no matter what type of aircraft you use. This thing about falling from the sky in a burning airplane scares the mind out of people and it always pulls down somewhere.