Airbus shares drop more than 6% after firm recalled its A320 aircraft

Despite announcement that most of 6,000 recalled aircraft now modified, European aviation giant's shares continue to fall

By Mucahithan Avcioglu

ISTANBUL (AA) - European aircraft manufacturer Airbus shares fell more than 6.5% as of 1315GMT Monday due to a new industrial quality issue detected in some A320 family aircraft following a request for an urgent software update.

Last week, Airbus directed an immediate precautionary software update for its A320 family after identifying that intense solar radiation could corrupt data critical to flight-control functions.

The firm said it has consequently identified a significant number of A320 Family aircraft currently in service that may be impacted.

Additionally, the European Union Aviation Safety Agency has issued an Emergency Airworthiness Directive for the Airbus A320 family.

Meanwhile, Airbus announced Monday that software updates have been completed on thousands of A320 family aircraft following last week's warning. Despite the announcement, Airbus shares traded on the Paris stock exchange fell sharply.

In October, Airbus stock had reached an all-time high of €217 ($252.7).

Also, shares of French aerospace and military firm Thales declined 3%. The company provided Airbus with the flight system software.

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