The approximate value of G-BNLL would have been no more than $20 million, possible as low as $10-$15 million. When the surveyors assess an aircraft for repair all labour costs are costed at overtime rates, this is because it is the assumption that the repair will be carried out by engineers on overtime, as no airline or maintenance facility employs engineers only to carry out damage repair work during normal shifts. That doesn't mean repair work isn't carried out on normal shifts. In the case of major repairs to Boeing aircraft then Boeing may send their specialist C130 with engineers, tools and spares to do the job on site, at a price.
It is possible that the hull of BNLL was 'self insured', I have no idea, but the hull policies for BA will, almost certainly, include a deductible or excess and that deductible may well have been more than the insurance value, in which case BA would be paying for the repair themselves anyway. Even if the deductible was much less it may well have been cheaper for BA to go for write-off and salvage than repair.
It is possible that the value of the engines and other spares will greatly reduce the size of the actual financial loss to BA, I doubt the engines, for instance, were twenty years old.
Last edited by parabellum; 25th Feb 2014 at 00:04.