An estimated $105 million was lost in the Japan Airlines plane collision.
Collision Theory: New Japan Airlines Plane $105 Million
After its flight JL516 collided with a Japan Coast Guard aircraft earlier this week, Japan Airlines announced an estimated operating loss of about JPY15 billion (US$104.81 million).
The airline’s two-year-old Airbus A350 widebody jet was involved in the incident at Tokyo’s Haneda Airport; as a result of the collision, the aircraft sustained significant fire damage.
The airline affirmed that insurance would cover the loss of the aircraft, according to a report from Nikkei Asia. The incident’s overall effect on the company’s financial estimates for the fiscal year that ends on March 31 is still being assessed, though.
AIG is the primary insurer, according to sources in the insurance sector quoted in a previous report.
on the “all-risks” $130 million insurance policy for the wrecked JAL Airbus A350. This is the first A350 model hull loss in history worldwide, according to the Aviation Safety Network.
Mid-Air Collision
Since 2015, the A350, which is primarily made of carbon composite materials, has been used for commercial purposes.
Regarding the incident, it was stated that following the collision, all 379 passengers on the JAL airliner were able to safely exit the burning aircraft. In the crash, five of the Coast Guard aircraft’s six crew members perished.
According to transcripts from the control tower, Japanese authorities said on Wednesday that although the JAL passenger plane was cleared for landing, the smaller Coast Guard aircraft was not cleared for takeoff.
Although investigations into the crash have begun, there are still many unanswered questions regarding what caused the accident, including why the two aircraft were using the same runway at the moment of impact.
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