Toll of Flash Airlines Boeing 737 crash

The Sharm el-sheikh plane crash- The Egyptian Flash Airlines Company Boeing 737 which crashed on the coast of the seaside resort soon after its take-off on Saturday, January 4, 2004, was connecting Sharm el-sheikh to Paris Charles De Gaulle via Cairo, carrying 148 passengers, 134 of whom French nationals. No passenger survived to the crash.

The plane insurance amounts to 550 million USD in public liability and property by Al Chark Insurance Company. Egypt Re and one of Lloyd's syndicate, XL Brockbank, entity of XL Capital are among the reinsurers.

One month after the disaster, on February 3, 2004 the French Federation of Insurance Companies (FFSA) announced the creation of a 1.3 million-euro fund as a compensation scheme , with a 10 000 euro-payment per victim of the plane crash. These payments, however, are only advance cash that FFSA expects to recover from Flash Airlines owners once the investigation is over.

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