When I was watching Bloomberg News yesterday, the Germanwings story had already reached a point where compensation and liabilities were discussed.
The Montreal Convention limits the airlines liability in case of fatality at $157,000, if the airline is not held liable. If the airline or any of its employee is liable, the airline can face unlimited claims. The usual compensation is around $1M per passenger, but Lufthansa’s insurers have set aside $300M for the claims arising from this Germanwings crash. [click to continue…]