Lufthansa and Airbus shares fell as news broke that an A320 passenger jet, operated by Germanwings, had crashed in the Alps this morning.
Reports of the crash of the Germanwings aircraft severely impacted stocks of parent company Lufthansa. Germanwings was orginally set up as a low-cost subsidiary of the German airline Lufthansa. Shares of the German carrier Lufthansa sunk by as much as 4.6 percent, before closing 1.7 percent lower, the worst performer on the Frankfurt stock market. Other aviation stocks were also impacted negatively, including shares of Ryanair and Easyjet. Airbus itself saw its stock go down by 2 percent shortly after the plane crash, however closing around 0.6 per cent higher at the end of the day.
The A320 is a widely successful model of the European aircraft manufacturer Airbus. The plane can carry up to 180 passengers and is considered very reliable. It is a popular carrier amongst many low-cost airlines such as Germanwings for medium-haul flights because of its low operating costs.
The airliner flying from Barcelona to Düsseldorf had 144 passengers and six crew on board. All passengers are feared dead.