Europe’s air forces ground Airbus involved in Spain crash

May 11, 2015, 2:25 PM UTC
Firefighters check the wreckage of the crashed Airbus A400M at the site of the accident near Sevilla airport on May 11, 2015. Spanish authorities found on May 10, 2015 the two cockpit recorders of the Airbus A400M military plane that crashed near Sevilla airport, killing four people, as Britain, Germany, Malaysia and Turkey grounded their models of the aircraft. AFP PHOTO/ CRISTINA QUICLER (Photo credit should read CRISTINA QUICLER/AFP/Getty Images)

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.