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Old 19th August 2005 | 00:40
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Tacan400
 
Joined: Jul 2005
Posts: 139
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From: Sydney
Regarding 'if you think aviation is expensive, try an accident'...

if you just do a few back of the envelope calculations like economists do and use a statistical value of human life of $3 million each, you get well over $300million for this one accident, not counting all the other direct and indirect costs ( loss of hull, loss of company and industry reputation, worker's compensation insurance, carrier's liability payments, accident investigation, airforce costs, site clean up etc etc etc.....)

And then add an unquantifiable amount for immense grief and suffering for the precious lives lost...

This accident will have cost the industry well over $500million.

Once the facts are established and the remedies devised, it is very hard to see how any aircraft modifications to prevent such an accident ever occurring again would not be cost beneficial!
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