Airbus Shares Plunge 10% Amid A320 Software Vulnerability Concerns
Key Points
- 1Airbus shares plummeted over 10% on Monday after the manufacturer confirmed A320-series flight-control software vulnerabilities.
- 2A significant number of A320 aircraft required immediate software fixes due to potential impact from intense solar radiation.
- 3Over 5,900 of approximately 6,000 delivered A320s have received software modifications, with fewer than 100 still undergoing updates.
- 4China's entire A320 civil aviation fleet completed all necessary software fixes by Sunday, ensuring continued normal operations.
Airbus Group experienced a significant stock market decline on Monday, with shares falling over 10 percent during intraday trading on the Paris stock exchange. This sharp drop followed the manufacturer's confirmation that a substantial number of its A320-series aircraft required immediate precautionary action. The issue stems from identified flight-control software vulnerabilities, which could be adversely affected by intense solar radiation.
In a statement, Airbus indicated that the majority of the approximately 6,000 A320-series aircraft delivered globally have now received the necessary software modifications. The company reported that fewer than 100 aircraft are still in the process of undergoing these critical updates. Specifically addressing the Chinese market, Airbus informed Xinhua that all A320-series aircraft within China's civil aviation fleet requiring preventive measures had successfully completed the mandated software fix by Sunday, adhering to airworthiness directives and Airbus technical documentation. This ensures normal operations for China's A320 fleet remain unaffected.
Airbus reiterated its apologies for the challenges and operational delays experienced by both passengers and airlines due to this issue. The European aerospace giant emphasized that maintaining safety remains its paramount priority across all its operations and products.
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