Economy, Business And Markets

Accident Earns $4m for Airline

Accident Earns $4m for AirlineAccident Earns $4m for Airline

Bimeh Iran (Iran Insurance Co.) has paid $3.9 million to Iran Aseman Airlines in an insurance claim.

The insurer paid the money to cover the airline’s loss of revenue due to the airline’s inactivity after a runway accident in 2014.

Bimeh Iran, settled the claim within a week of the claim’s filing by Iran Aseman. This is unprecedented in the world according to the insurer’s public relations office, which broke the news.

The Fokker 100 flying from Mashhad to Zahedan made an emergency landing due to a malfunction on May 10. The pilot was forced to make an emergency landing at Zahedan airport when the aircraft’s rear wheels did not open.

The pilot of Flight 853 was required to circle the field for about an hour to consume excess fuel to prevent fire, before attempting the landing. Upon the plane’s touchdown on the runway, its front tire exploded. But the aircraft was transitioned onto the grassy margins of the runway, without severe injuries.

The left hand main undercarriage of the Fokker 100, failed to extend or lock prior to landing.

The forced landing was carried out on runway 35 of Zahedan Airport, according to local media. The airplane, registered EP-ASZ, swerved to the left and came to rest 1450 meters past the runway 35’s threshold and 23 meters to the left of the centerline.

Iran Aseman Airlines is based in Tehran and is one of the five Iranian airlines that fly the aircraft. Aseman operates scheduled domestic and regional flights within the Persian Gulf area, as well as charter and air taxi services.

The Fokker 100 is a medium-size twin-turbofan airliner which was made from 1986 until Fokker’s bankruptcy in 1997. It was the largest jet airliner built by the Dutch company.

Low operational costs and scant competition in the 100-seat short-range class led to strong sales when it was introduced in the late 1980s, but sales fell as competition increased. Before the end of production 283 airframes were delivered.

Bimeh Iran is the country’s leading insurer and reinsurer. The company is state owned and remains the dominant power in the market. It sold 46.5 percent of total premiums, in the six months ending in Sept. 22. The insurer has considerable scale. It is one of the largest insures in the Middle East and would rank as medium-large in most countries.

The insurer Bimeh Iran is likely to keep its position as Iran’s top insurer with its state backing, as it is seen as a strategic asset by the government.