Air Bagan claims insurance from accident

Published on Monday, 31 December 2012 22:58

Air Bagan has claimed US$154 million worth of insurance for the damage on its plane that crashed in northern Myanmar on December 25.

Htoo Htet Htwe, the airline’s managing director, said the aircraft’s machine and body alone are worth $4 million.

Air Bagan has coverage from Myanmar Insurance, which is reinsured by a Singaporean company, Pana Harrison (Asia) Pte Ltd.

The insurance also includes claims for injured persons, with 5 million kyats each ($5,800) for those who bought the travel insurance when they booked the ticket.

Among the seven injured in the crash, two have recovered and discharged from Yangon hospital on December 27 and 28, the airline said. The other five injured people--two pilots, two tour guides and one passenger--are still in the hospital.

Among the domestic airline operators in Myanmar, only the two airlines, Air Bagan and MAI, have insurance for their planes.

At 8:50am on December 25, Air Bagan’s domestic flight flying the Yangon-Mandalay-Heho route crashed two miles away from Heho Airport in eastern Shan State, killing two people and injuring eleven.