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Airbus Shares Fall Over 6.5 Percent on Monday
(MENAFN) Airbus stock tumbled over 6.5% by 1315GMT Monday following revelations of a critical industrial quality defect affecting numerous A320 family aircraft, prompting an emergency software update directive.
The European aviation giant last week mandated an immediate precautionary software patch for its A320 fleet after discovering intense solar radiation could corrupt vital flight-control data.
The manufacturer confirmed it has identified a substantial number of A320 Family aircraft currently operating that may be compromised by the vulnerability.
The European Union Aviation Safety Agency responded by issuing an Emergency Airworthiness Directive targeting the Airbus A320 family.
Airbus announced Monday that software corrections have been implemented across thousands of A320 family jets following last week's urgent advisory. Despite the remediation progress, Airbus shares traded on the Paris stock exchange experienced sharp declines.
In October, Airbus stock achieved a record high of €217 ($252.7).
French aerospace and defense contractor Thales—which supplied Airbus with the flight system software—saw its shares drop 3% amid the fallout.
The safety concerns cast a shadow over Airbus's A320 family, the world's best-selling commercial aircraft line, raising questions about quality control procedures and potential delivery disruptions.
The European aviation giant last week mandated an immediate precautionary software patch for its A320 fleet after discovering intense solar radiation could corrupt vital flight-control data.
The manufacturer confirmed it has identified a substantial number of A320 Family aircraft currently operating that may be compromised by the vulnerability.
The European Union Aviation Safety Agency responded by issuing an Emergency Airworthiness Directive targeting the Airbus A320 family.
Airbus announced Monday that software corrections have been implemented across thousands of A320 family jets following last week's urgent advisory. Despite the remediation progress, Airbus shares traded on the Paris stock exchange experienced sharp declines.
In October, Airbus stock achieved a record high of €217 ($252.7).
French aerospace and defense contractor Thales—which supplied Airbus with the flight system software—saw its shares drop 3% amid the fallout.
The safety concerns cast a shadow over Airbus's A320 family, the world's best-selling commercial aircraft line, raising questions about quality control procedures and potential delivery disruptions.
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