The US Federal Aviation Administration (FAA) has begun an investigation into how counterfeit titanium found its way into recently built Boeing and Airbus aircraft, The New York Times reports. 

The counterfeit material was purchased from an unknown Chinese company, and the evidence of the material's authenticity had been fabricated.  

Both Airbus and Boeing told The New York Times that they had conducted tests of the affected material and that no problems had been detected. 

Boeing shares fell 1.1 percent in US pre-market trading while Airbus lost 2 percent on the Paris Stock Exchange CAC40. 

Source: Dagens Industri