Firefighters check the wreckage of the crashed Airbus A400M near Seville airport.

A crash of a military transport in Spain is hurting the European plane maker.

By Ben Geier
May 11, 2015

Air forces across Europe have suspended flights of the Airbus Group NV A400M after a crash in Spain last week, and the European rival to Boeing BA is taking a beating in the market because of it.

The plane — a military transport craft — crashed near Seville, Spain, last week killing four people, according to Bloomberg. Since then, both the Royal Air Force in the United Kingdom and the Luftwaffe in Germany have stopped flying the planes.

Since the crash, shares of the European company have fallen by up to 3.8%.

Airbus is one of the two biggest aircraft manufacturers in the world, and a rival to Boeing.

Among the six people on the plane, all Spanish employees of Airbus, four were killed and two seriously injured, the report said.

For more on the defense industry, read Clay Dillow’s recent Fortune article.


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