Japan Airlines estimates loss of about $139 million from collision

TOKYO – Japan Airlines (JAL) estimated on Jan 4 that the collision of its flight JL516 with a Japan Coast Guard aircraft on Jan 2 would result in an operating loss of about 15 billion yen (S$139 million). The loss of the aircraft will be covered by insurance, the company said, adding it was assessing the impact on its earnings forecast for the financial year ending March 31. Insurance industry sources have said US insurer AIG was the lead insurer on a US$130 million “all-risks” policy for the two-year-old JAL Airbus A350 widebody jet that was destroyed by a fire after the collision at Tokyo’s Haneda airport. It was the first-ever hull loss globally for the A350 model, according to…