Dubai-Kozhikode Air India Express crash: Airline has a $50 million insurance claim

The Air India Express plane that crashed at Kozhikode airport on Friday evening was owned by the airline and was not a leased one, said an airline official. Out of its total fleet of 25 Boeing 737-800 NG aircraft (post crash 24 aircraft), Air India Express owns 17 aircraft (16 post crash) and the balance eight were taken on lease. A senior insurance industry official told IANS that the entire claim amount will be paid to the airline if it is an owned aircraft. If there is any loan taken on the plane then the financier will also have a financial interest in the crashed craft. All the owned aircraft of Air India Express underwent refurbishment of the cabin involving a change of seats, carpets and curtains. The airline had said the refurbishment project resulted in the empty weight of the aircraft reducing by about 800 kg due to the lighter weight of the new seats, resulting in the gain of additional traffic payload and revenue earning capability to that extent on every flight. With the lead reinsurer of the plane approving the claim for total loss of the Dubai-Kozhikode flight, Air India Express will get the entire claim of $50m (Dh183m). "Like the consortium of primary insurers, a consortium of reinsurers has insured the aircraft of Air India and its subsidiaries like Air India Express. The lead reinsurer, AIG London, has approved the hull claim (claim for loss of aircraft). Other reinsurers in the consortium will also give their approval," the senior official with one of the four insurers said.<br/>