Shares in German airline Lufthansa fell after one of its subsidiary's planes crashed in the French Alps, with 150 people on board.

The Airbus A320 jet was operated by Lufthansa budget division Germanwings.

It came down near a ski resort in the Barcelonnette area in southeastern France on its way from Barcelona to Duesseldorf, officials said.  

Lufthansa's shares closed 1.5% lower in Frankfurt having recovered slightly from a sharper drop earlier in the day.

Meanwhile shares in Airbus closed up slightly, having also fallen following news of the crash.

France's transport minister said there were "no survivors" from the crash. 

Germanwings is the low-cost subsidiary of Lufthansa and is currently being expanded by the parent company to handle most of its domestic and European flights, taking off and landing at airports other than Lufthansa's two main hubs in Frankfurt and Munich. 

With its trademark yellow and purple colours, it originally started life as part of Eurowings, but became a separate company in 2002. 

Lufthansa fully acquired the Cologne-based subsidiary in 2009. Its fleet comprises Airbus A320-200 and A319-100 jets, according to the Lufthansa website. 

The low-cost carrier has around 2,000 employees and it carried around 16 million passengers in the year to July 2014. 

Germanwings succeeded in narrowing its losses in 2014, despite financial fallout from a pilots strike, and hopes to break even for the first time in 2015.