August record month for airline losses

The four recent airline crashes that occurred in Canada, Italy, Venezuela and Greece, have put August on the map as the worst month for airline losses in more than three years, according to Aon Corp. The value of the most expensive insured hull the Air France Airbus crash at Toronto Pearson International Airport (all passengers survived) was over $170 million. The West Caribbean Airways flight (no survivors), Helios Airways where the plane crashed into a mountain in Greece (no survivors) due to a cabin air malfunction and a Tuninter ATR flight (13 killed, 21 survived) that went down off the coast of Sicily added to the August airline loss record. Aon reported that although the While the monetary cost is high, the number of losses still falls within the average number of major airliner crashes over the last three years.