Core Viewpoint - Airbus experienced a significant stock drop, with a decline of over 10% on December 1, marking its largest single-day drop of the year, leading to a market capitalization falling below €150 billion [1][3]. Group 1: Quality Issues and Delivery Challenges - Airbus identified an industrial quality issue affecting the fuselage skin panels of several A320 aircraft, resulting in delivery delays, although no operational aircraft have shown signs of the defect [3]. - The company delivered 72 aircraft in November, bringing the total for the year to 657, with a target of approximately 820 deliveries for the year, necessitating over 160 deliveries in December to set a new monthly record [3]. - Analysts express mixed opinions on Airbus's ability to meet its delivery targets, as aircraft deliveries significantly impact revenue and cash flow [3]. Group 2: Software and Safety Concerns - A previous software issue led to a recall of A320 aircraft, with market expectations of a 2%-3% stock drop, indicating heightened market concerns [5]. - On November 28, Airbus announced that approximately 6,000 A320 aircraft required checks due to safety concerns related to the flight control system, which could lead to flight delays or cancellations [7][10]. - The root cause of the flight control issue was identified as solar radiation affecting the aircraft's memory chips, leading to erroneous flight control commands [8][9]. Group 3: Operational Impact and Global Response - Airbus CEO Guillaume Faury acknowledged that the repair work would pose significant logistical challenges and lead to flight delays, with operators working diligently to implement necessary updates [7]. - Major airlines, including American Airlines and Lufthansa, reported that a substantial number of their A320 fleets would require immediate rectification, with each aircraft needing approximately two hours for repairs [7][10]. - As of December 1, Airbus China confirmed that all A320 aircraft in the Chinese civil aviation fleet had completed the necessary work in accordance with safety directives [11].