Manufacturing Industry
Asian airlines propose joint insurance pool
Airline Industry Information, Nov 12, 2001
AIRLINE INDUSTRY INFORMATION-(C)1997-2001 M2 COMMUNICATIONS LTD
A number of airlines based in Asia have come together in a plan to create a global pool containing millions of dollars to meet claims arising from future acts of terrorism.
A spokesman for the Association of Asia Pacific Airlines (AAPA) has stated that the scheme will need support from airlines elsewhere in the world to make it viable.
The AAPA currently has 19 members. Each member, should the plans be brought into operation, would contribute around USD20m to the pool which would then be used to pay out future insurance claims for participating airlines.
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COPYRIGHT 2001 M2 Communications Ltd.
COPYRIGHT 2008 Gale, Cengage Learning
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