AirAsia crash, 70 million USD in provisions for claims

Insurers of low cost AirAsia have set aside a provision of 70 million USD following the crash of the Airbus A320 linking Surabaya to Singapore on 28 December.

This reserve is designed to compensate not only the families of the victims but also the airline company. The hull of the aircraft alone is estimated at 46 million USD.

The insurers involved in this incident are Asuransi Jasa Indonesia (public sector) and Asuransi Sinar Mas (private sector). The accident claimed the lives of 155 people.