Thought they'd have cleaned this up weeks ago. Are these flight departments leasing in the meantime? Good luck to all affected -
http://www.cnbc.com/id/35585267
http://www.cnbc.com/id/35585267
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Thought they'd have cleaned this up weeks ago. Are these flight departments leasing in the meantime? Good luck to all affected -
http://www.cnbc.com/id/35585267
Insurance companies and lawyers involved. Won't get done fast.
Not happening, from what I hear the insurance companies are not ponying up anytime soon.
Second hand info, my boss spoke with someone who had his aircraft in the hanger. Apparently the insurance company is playing big time hard ball. They told him that they plan on fixing his aircraft (one of the big jets doing a wheelie). They said that they figured it would cost them somewhere around $15-20 million. If he wanted his money now they were offering something far south of that number. Pretty much 50% of the cost to replace the jet.
Then he discovered a clause in his insurance contract that restricts the number of hours that charter can be flown in a day. It was something ridiculous like one or two hours a day. So a DC to BUR and back charter was for 11 hours and he received something like two hours from the insurance company with a max rate of $5k an hour or $10k.
Not happening, from what I hear the insurance companies are not ponying up anytime soon.
Second hand info, my boss spoke with someone who had his aircraft in the hanger. Apparently the insurance company is playing big time hard ball. They told him that they plan on fixing his aircraft (one of the big jets doing a wheelie). They said that they figured it would cost them somewhere around $15-20 million. If he wanted his money now they were offering something far south of that number. Pretty much 50% of the cost to replace the jet.
Then he discovered a clause in his insurance contract that restricts the number of hours that charter can be flown in a day. It was something ridiculous like one or two hours a day. So a DC to BUR and back charter was for 11 hours and he received something like two hours from the insurance company with a max rate of $5k an hour or $10k.