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Airbus Shares Decline Over 10 Percent on Monday
(MENAFN) Airbus Group shares plummeted over 10 percent during Monday's intraday trading on the Paris stock exchange before recovering some losses later in the session.
The sharp decline followed Airbus's confirmation that a substantial number of A320-series aircraft demanded immediate precautionary intervention due to flight-control software vulnerabilities susceptible to intense solar radiation exposure.
In its Monday statement, Airbus disclosed that the overwhelming majority of approximately 6,000 aircraft delivered globally have now received required software modifications. Fewer than 100 aircraft remain pending updates.
Airbus informed media that as of Sunday, all A320-series aircraft in China's civil aviation fleet requiring preventive measures had completed the necessary software fix in accordance with airworthiness directives and Airbus technical documentation. Normal operations of China's A320 fleet will not be affected.
Airbus again apologized for the challenges and delays caused to passengers and airlines and reiterated that safety remains its top priority.
The sharp decline followed Airbus's confirmation that a substantial number of A320-series aircraft demanded immediate precautionary intervention due to flight-control software vulnerabilities susceptible to intense solar radiation exposure.
In its Monday statement, Airbus disclosed that the overwhelming majority of approximately 6,000 aircraft delivered globally have now received required software modifications. Fewer than 100 aircraft remain pending updates.
Airbus informed media that as of Sunday, all A320-series aircraft in China's civil aviation fleet requiring preventive measures had completed the necessary software fix in accordance with airworthiness directives and Airbus technical documentation. Normal operations of China's A320 fleet will not be affected.
Airbus again apologized for the challenges and delays caused to passengers and airlines and reiterated that safety remains its top priority.
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