Latest news with #Tynda
Travel Daily News
a day ago
- Business
- Travel Daily News
Russian aviation market remains profitable despite Angara Airlines crash
The Angara Airlines crash in Russia may cost insurers $20–$25 million, raising premiums and straining the aviation reinsurance market in 2025. Following the news that, on July 24, 2025, Angara Airlines Flight 2311, an Antonov An-24RV turboprop, crashed near Tynda in Amur Oblast in eastern Russia, resulting in the tragic loss of all 48 people on board – including 42 passengers and 6 crew, Chandini Sharma, Insurance Analyst at GlobalData, a leading data and analytics company, comments: 'This catastrophic accident will cost around $20 to $25 million to the Russian aviation insurance market. Claims paid by Russian insurers for the AZAL plane crash in December 2024, and this accident will not only reduce the profitability of the Russian aviation insurance market in 2025 but also increase the reinsurance rate for Russian insurers. It signals a growing pattern of severe and frequent losses that will reshape the risk environment for both the Russian and international aviation insurance and reinsurance markets, which are already reeling under pressure from the costly Air India plane crash in June 2025. 'The crash not only represents an immense human tragedy but also marks one of the largest single claims events in the recent Russian aviation insurance market. The total loss will comprise around $10 million of aviation hull and the rest as liability claims. Insurers will cover liability claims related to passenger fatalities, governed by Russian law and the internationally binding Montreal Convention. Initial estimation of liability claims, based on applicable regulations, could go up to $9 million. However, this could further escalate based on the investigation report. 'Russian insurers will bear a major portion of the loss, as aviation insurers retain most of the risk and cede less than 60% of the gross written premiums (GWP) to reinsurers during 2020-24. In 2024, insurers ceded 32.6% of the GWP to reinsurers. 'SOGAZ JSC, the leading Russian insurer, confirmed that it holds the civil liability policy for Angara Airlines. As the company ceded only 56.2% of the total aviation liability GWP, this incident will push the company's aviation business into losses. However, as aviation contributes only 0.6% of the company's general insurance GWP, this will not have a significant impact on its overall performance. 'This disaster comes amid ongoing turbulence in Russia's aviation insurance landscape, destabilized by elevated claims severity, inflation in repair costs, and disruptions linked to the Russia-Ukraine aircraft leasing dispute. However, the Russian aviation insurance market has been historically highly profitable, with the loss ratio remaining well below 30% in the last three years. The recent AZAL (based on earlier industry estimates of around $30 million) and Angara Airlines crash-related claims could go up to $50 million compared to the estimated aviation GWP of $298 million in 2025. 'With recent major aviation losses, insurance premiums and reinsurance rates are expected to increase. International reinsurers are expected to revisit their terms and conditions. Also, the ongoing investigations into the crash could result in regulatory action and trigger additional business interruption claims.'
Khaleej Times
4 days ago
- General
- Khaleej Times
Russian plane crash: Investigators recover flight data recorders
Investigators have recovered flight data recorders from the wreckage of a plane that crashed in Russia's far east, killing 48 people, and will send them for analysis, Russian authorities said Friday. The aircraft, an Antonov-24 operated by Angara Airlines, was making a second attempt to land in the remote Siberian town of Tynda when it disappeared from radar around 1pm local time (0400 GMT) on Thursday. A rescue helicopter later spotted the burning fuselage of the plane on a forested mountain slope about 15 kilometres (nine miles) south of Tynda's airport. Prosecutors have not commented on what may have caused the crash, but a rescuer quoted by the TASS news agency said the twin-propeller plane -- almost 50 years old — was attempting to land in thick cloud. Investigators are looking into whether the crash was caused by technical malfunction or human error, the agency reported. "The flight recorders have been found at the crash site and will be delivered to Moscow for decryption in the near future," Russia's transport ministry said in a statement. Russian authorities have also launched an investigation into the plane's operator, Angara Airlines, and whether it complied with regulations, it added. "Based on the findings, a decision will be made on the company's future operations," the ministry said. Angara Airlines, a small regional carrier based in the Siberian city of Irkutsk, said it was doing "everything possible to investigate the circumstances of the accident". The company's CEO, Sergei Salamanov, told Russia's REN TV channel on Thursday that it was the plane's captain — an experienced pilot with 11,000 hours of flight time — who decided to make the flight. "The weather forecast was unfavourable," he said. The plane came down in a hard-to-reach area and it took a ground rescue team hours to reach the site. Russia's transport ministry said the families of the 48 killed — six of whom were crew — would receive five million rubles' ($63,000) compensation each. The number killed could have risen to 49 if Marina Avalyan, who was already sitting on the plane, had not been asked by her daughter to urgently get off and return home, according to a story reported by Argumenty i Fakty newspaper. The daughter wanted Avalyan to look after her newborn baby, as she was taking her second child to a hospital, the daily said. "I have no words to describe it: is this a miracle? Thank God she returned! My child has saved my mother," Zimina told Argumenty i Fakty.
Arab News
4 days ago
- General
- Arab News
Investigators find black boxes from crashed Russia plane
MOSCOW: Investigators have recovered flight data recorders from the wreckage of a plane that crashed in Russia's far east, killing 48 people, and will send them for analysis, Russian authorities said Friday. The aircraft, an Antonov-24 operated by Angara Airlines, was making a second attempt to land in the remote Siberian town of Tynda when it disappeared from radar around 1:00 p.m. local time (0400 GMT) on Thursday. A rescue helicopter later spotted the burning fuselage of the plane on a forested mountain slope about 15 kilometers (nine miles) south of Tynda's airport. Prosecutors have not commented on what may have caused the crash, but a rescuer quoted by the TASS news agency said the twin-propeller plane — almost 50 years old — was attempting to land in thick cloud. Investigators are looking into whether the crash was caused by technical malfunction or human error, the agency reported. 'The flight recorders have been found at the crash site and will be delivered to Moscow for decryption in the near future,' Russia's transport ministry said in a statement. Russian authorities have also launched an investigation into the plane's operator, Angara Airlines, and whether it complied with regulations, it added. 'Based on the findings, a decision will be made on the company's future operations,' the ministry said. Angara Airlines, a small regional carrier based in the Siberian city of Irkutsk, said it was doing 'everything possible to investigate the circumstances of the accident.' The company's CEO, Sergei Salamanov, told Russia's REN TV channel on Thursday that it was the plane's captain — an experienced pilot with 11,000 hours of flight time — who decided to make the flight. 'The weather forecast was unfavorable,' he said. The plane came down in a hard-to-reach area and it took a ground rescue team hours to reach the site. Russia's transport ministry said the families of the 48 killed — six of whom were crew — would receive five million rubles' ($63,000) compensation each. The number killed could have risen to 49 if the Marina Avalyan, who was already sitting on the plane, had not been asked by her daughter to urgently get off and return home, according to a story reported by Argumenty i Fakty newspaper. The daughter wanted Avalyan to look after her newborn baby, as she was taking her second child to a hospital, the daily said. 'I have no words to describe it: is this a miracle? Thank God she returned! My child has saved my mother,' Zimina told Argumenty i Fakty.
CNA
4 days ago
- General
- CNA
Investigators find black boxes from crashed Russia plane
MOSCOW: Investigators have recovered flight data recorders from the wreckage of a plane that crashed in Russia's far east, killing 48 people, and will send them for analysis, authorities said on Friday (Jul 25). The aircraft, an Antonov-24 operated by Angara Airlines, was making a second attempt to land in the remote Siberian town of Tynda when it disappeared from radar around 1pm local time (4am GMT) on Thursday. A rescue helicopter later spotted the burning fuselage of the plane on a forested mountain slope about 15km south of Tynda's airport. Prosecutors have not commented on what may have caused the crash, but a rescuer quoted by the TASS news agency said the twin-propeller plane - almost 50 years old - was attempting to land in thick cloud. Investigators are looking into whether the crash was caused by technical malfunction or human error, the agency reported. "The flight recorders have been found at the crash site and will be delivered to Moscow for decryption in the near future," Russia's transport ministry said in a statement. Russian authorities have also launched an investigation into the plane's operator, Angara Airlines, and whether it complied with regulations, it added. "Based on the findings, a decision will be made on the company's future operations," the ministry said. Angara Airlines, a small regional carrier based in the Siberian city of Irkutsk, said it was doing "everything possible to investigate the circumstances of the accident". The company's CEO, Sergei Salamanov, told Russia's REN TV channel on Thursday that it was the plane's captain - an experienced pilot with 11,000 hours of flight time - who decided to make the flight. "The weather forecast was unfavourable," he said. Regional investigators said on Friday they had recovered bodies from the wreckage. The plane came down in a hard-to-reach area and it took a ground rescue team hours to reach the site.
Daily Telegraph
6 days ago
- General
- Daily Telegraph
Plane carrying 49 passengers crashes in Russia's far east
Don't miss out on the headlines from World. Followed categories will be added to My News. A passenger plane carrying nearly 50 people crashed in a remote spot in Russia's far eastern region of Amur on Thursday, with no immediate signs of survivors, authorities said. The aircraft, a twin-propeller Antonov-24 operated by Angara Airlines, was headed to the town of Tynda from the city of Blagoveshchensk when it disappeared from radar at around 1:00 pm local time (0400 GMT). A rescue helicopter later spotted the burning fuselage of the plane on a forested mountain slope about 16 kilometres (10 miles) from Tynda. Videos published by Russian investigators showed what appeared to be columns of smoke billowing from the wreckage of the plane in a dense, forested area. Rescuers in the helicopter saw no evidence of survivors, local rescuers said, as the Amur region's civil defence agency said it was dispatching a ground team to the scene. 'At the moment, 25 people and five units of equipment have been dispatched, and four aircraft with crews are on standby,' it said. The forest terrain has made getting to the site difficult, a rescuer told the state TASS news agency. 'The main search operations are being conducted from the air,' they said. Angara Airlines, a small regional carrier based in the Russian city of Irkutsk, made no immediate public comment. This video grab from a handout footage released by the Eastern Interregional Directorate for Transport of the Russian Investigative Committee on July 24, 2025, (Photo by Handout / Investigative Committee of Russia / AFP) Plane attempted 'second landing' The plane was carrying 43 passengers and six crew members on board, according to the region's governor Vassily Orlov. Among the passengers were five children, he said. Russia's state TASS news agency, citing emergency services, said the plane was carrying 40 passengers and six crew. The plane crashed while attempting a second approach to Tynda airport, Russia's Far Eastern Transport Prosecutor's Office said. 'While approaching Tynda Airport, the aircraft went around for a second landing, after which contact was lost,' it said. 'The circumstances are being investigated,' it said. It did not make any immediate comment on what caused the crash. The state TASS news agency reported that the plane was manufactured almost 50 years ago. 'In 2021, the aircraft's airworthiness certificate was extended until 2036,' it reported, citing a source in aviation services. AFP was not able to immediately verify this information. The Antonov-24 is a popular, Soviet-designed twin-propeller plane that first entered into service in 1959. Russia has taken steps to switch from Soviet aircraft to modern jets in recent years, but ageing light aircraft are still widely used in far-flung regions, with accidents being frequent. Originally published as Plane carrying 49 passengers crashes in Russia's far east
