Shares of Airbus Group NV (EPA:AIR) dropped nearly 2 percent Tuesday after an A320 passenger plane carrying 150 people crashed in the French Alps. The plane was operated by Germanwings, a budget airline owned by Deutsche Lufthansa AG (ETR:LHA), whose shares tumbled more than 5 percent following the initial reports of the crash.

Germanwings Flight 4U 9525 was traveling from Barcelona, Spain, to Düsseldorf, Germany, later crashing near Barcelonnette, France, a town in the Alpes-de-Haute-Provence. "The conditions of the accident, which have not yet been clarified, lead us to think there are no survivors," French President François Hollande announced Tuesday.

European Airbus Group, the world's second-largest aerospace group after Boeing Co. (NYSE:BA), announced plans last month to increase production of its narrow body A320 to 50 a month. In February, the company reported that earnings, excluding items, rose 54 percent last year, to 4 billion euros ($4.56 billion), as revenue gained 5 percent, to 60.7 billion euros ($66.4 billion).

Shares of Airbus Group dropped more than 2 percent Tuesday, to 59.14 euros in Paris, while Lufthansa’s stock price plunged more than 5 percent, to 13.07 euros in Frankfurt. Meanwhile, American low-cost carrier Spirit Airlines Incorporated (NASDAQ:SAVE) edged down 0.62 percent, to $77.23, on the Nasdaq, while Irish low-cost airline Ryanair Holdings (NASDAQ:RYAAY) traded flat, up just 0.08 percent, to $65.26.

Following the opening bell in U.S. financial markets, shares of American Airlines Group Inc. (NASDAQ:AAL), Delta Air Lines, Inc. (NYSE:DAL) and Southwest Airlines Co. (NYSE:LUV) all edged lower.

airbus chart Shares of Airbus Group (EPA:AIR) dropped more than 2 percent Tuesday to 59.14 euros, while Deutsche Lufthansa AG's (ETR:LHA) stock price plunged more than 5 percent to 13.07 euros. Photo: Yahoo Finance

Carsten Spohr, Lufthansa’s CEO, said on Twitter that it would be a "dark day" for the airline.