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It is a risk assessment situation as most are, I agree. Once youre on fire (in y opinion) its back to basics though...fly towards a runway, gear, flaps, touchdown, brakes and evacuation.
In full IMC you have to go with (short) vectors anyway and the non flying can do the QRH procedures as far as possible.
Though it is not an engine fire if you have time read the Swissair report...
Would be interested to hear what the procedures are for ultra long haul ops.
j
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