AIRBUS 320 CRASH ADDS $43M TO $300M-PLUS AVIATION LOSSES IN 2008

The crash of an Airbus 320 into the Mediterranean Sea on Thursday will add an estimated $43m to the total aviation hull loss for the year, which is now approaching $400m. The XL Airways Germany-leased plane, owned by Air New Zealand, was on a training flight with seven people aboard, five of them New Zealanders. Two bodies have been recovered so far, with the remaining five believed trapped in the cockpit. Hull insurance for XL Airways is provided by Global Aerospace Underwriting Managers. XL Airways is a former subsidiary of UK-based XL Leisure, which went into administration earlier this year.