Cyber hit on China-owned supplier to Boeing, Airbus sends stock down

Beijing

CYBER fraud sent shares of Austria's FACC AG to their steepest drop since the supplier of parts to Boeing Co and Airbus Group SE began trading in 2014. The company put damages at 50 million euros (S$78.4 million) - one of the biggest losses after a hacking event for its size.

"The financial accounting department of FACC Operations GmbH was the target of cyber fraud," the company, whose biggest investor is Aviation Industry Corp of China, said on Wednesday. FACC said earlier in the day that "cyberattack activities were executed from outside". The stock closed 17 per cent lower.