European aviation authorities urgently need to revise their airspace rules to minimize disruption from ash emitted by an Icelandic volcano, the airline industry body IATA said on Tuesday. The International Air Transport Association said the current system was leading to …
The European Central Bank’s decision to buy tarnished debt in the euro zone risks turning it into Europe’s de facto “bad bank” and putting cash-strapped governments and taxpayers on the hook for yet more money. The ECB was forced to …
Volcanic ash from Iceland caused widespread disruption at airports in Britain and other parts of northern Europe on Monday, grounding 1,000 flights and delaying hundreds of thousands of passengers, aviation officials said. Eurocontrol, the European air traffic agency, said Britain …
A Libyan Airbus jet crashed early on Wednesday as it tried to land at Tripoli airport, killing 103 people on board and leaving a Dutch boy the sole survivor, Libyan officials said. The Airbus A330-200, only in service since September, …
Last weekend the leaders of the European Union finally realized that their dithering over a financial aid package for Greece had imperiled the entire continent’s financial structure. They acted to stem the tide by adopting – subject as usual to …
Bermuda-based Flagstone Reinsurance Holdings Limited joined a number of reinsurers with diminished results for the first quarter of 2010. The Company reported net operating income of $12.1 million, compared to $31.3 million in Q1, 2009, a 61.4 percent drop. However, …
The location of black box recorders from a 2009 Air France crash that killed 228 people has been sharply narrowed down in the Atlantic Ocean, the French air accident investigation authority said on Thursday. France’s BEA body, which looks into …
German Chancellor Angela Merkel and the head of the IMF warned of financial contagion on Wednesday unless a euro zone debt crisis is stopped in Greece, while investors fled to the safe havens of the dollar and gold. Greek public …
A deep-sea search for the wreck of an Air France plane that crashed into the Atlantic last year, killing all aboard, has been extended to cover a broader expanse of ocean, investigators said on Tuesday. Air France flight AF447 between …
London-based Amlin plc, one of Lloyd’s and the UK’s best known insurers, has announced plans to establish a reinsurance company in Switzerland to serve European clients. Amlin said it believes that the company “will provide the European insurance market with …
