Narrative:

On arrival ewr area, level 8000 ft MSL, approach control issued turn to 020 degrees from heading 060 degrees inbound rbv (approximately over rbv). In level turn to 020 degrees, autoplt altitude hold malfunctioned. Descent stopped at 7600 ft MSL, altitude loss immediately recovered to 8000 ft. Simultaneously both aircraft compass system failed. Crew resorted to navigating by standby (whiskey) compass, informed ATC, and with ATC permission and concurrence, naved visually and landed at ewr runway 4L without incident. Appropriate entries made in aircraft log. Aircraft grounded, lack of parts. Flight crew safety report submitted to air carrier safety.

Google
 

Original NASA ASRS Text

Title: DOUBLE ACFT EQUIP PROB MALFUNCTION CREATES ALTDEV ALT EXCURSION AND HDG TRACK DEV.

Narrative: ON ARR EWR AREA, LEVEL 8000 FT MSL, APCH CTL ISSUED TURN TO 020 DEGS FROM HDG 060 DEGS INBOUND RBV (APPROX OVER RBV). IN LEVEL TURN TO 020 DEGS, AUTOPLT ALT HOLD MALFUNCTIONED. DSCNT STOPPED AT 7600 FT MSL, ALT LOSS IMMEDIATELY RECOVERED TO 8000 FT. SIMULTANEOUSLY BOTH ACFT COMPASS SYS FAILED. CREW RESORTED TO NAVING BY STANDBY (WHISKEY) COMPASS, INFORMED ATC, AND WITH ATC PERMISSION AND CONCURRENCE, NAVED VISUALLY AND LANDED AT EWR RWY 4L WITHOUT INCIDENT. APPROPRIATE ENTRIES MADE IN ACFT LOG. ACFT GNDED, LACK OF PARTS. FLC SAFETY RPT SUBMITTED TO ACR SAFETY.

Data retrieved from NASA's ASRS site as of July 2007 and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.