PPRuNe Forums - View Single Post - Air Asia Indonesia Lost Contact from Surabaya to Singapore
Old 29th Dec 2014, 11:06
  #365 (permalink)  
mixture
 
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Yep. And reinsurers must be thinking that insuring planes is becoming risky. Allianz were the lead reinsurer for MH370 as well as this plane (and also MH17). If this one is not found, they may start to insist on real time tracking.
Seriously ?

Insurers work on statistics my friend.

As I've already highlighted on this thread .... how many flights occur every year ? How many flights have occurred over the last 10 years ? 20 years ?

How many of these millions of flights have been affected by a problem that would be solved by some expensive solution ??

A quick Google suggests the three major passenger airline alliances did a combined total estimated 50,000 flights per day in 2014, that's 18,250,000 fights in 2014 !

So the POTENTIALLY "untraceable" loss of 2 or 3 aircraft, whilst obviously sad, is a mere needle in a haystack at 0.00001643835616438356%. And that's just the number for the "alliances", if you consider the other non-alliance airlines, that percentage becomes even smaller !

Obviously 2014 was a "bad" year,some years you may have no "untraceable" losses at all.

That's why you need to evaluate the risk vs reward in business, and quite frankly the risk just is not sufficient to start running around like headless chickens spending money deploying technology across entire fleets !

I also suggest you go read post #340 from PT6Driver which further reinforces the pointlessness of such tracking solutions.

The only thing the reinsurers would do is laugh your idea out of the room ! The insurers are in the business of dealing with risks !

Aviation remains one of the safest and least risky modes of transport on earth, and the insurers/reinsurers know that !

Last edited by mixture; 29th Dec 2014 at 11:25.
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