Recent reports regarding the financial settlements after the tragic Air India Flight AI171 crash have sparked serious discussions among the public. Data reveals that the airline received an insurance payout of ₹1,145 crore for the loss of the aircraft, while the victim families have collectively received ₹228 crore so far. While this gap looks large, experts have clarified that the payment to families is currently just an interim relief and the final process is still underway.
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Why is the Airline Payout Faster?
The insurance claim for the aircraft, known as the ‘Hull’ claim, is based on a fixed asset value. Since the plane was a total loss, insurers settled the ₹1,145 crore payment to Air India quickly. On the other hand, compensation for passengers falls under ‘Liability’ claims. This process is complex because it requires verifying legal heirs and assessing financial dependency for every single passenger.
Insurance experts estimate that the total liability for passenger claims will eventually reach between ₹3,000 to ₹4,000 crore. This amount is significantly higher than the aircraft’s value, but it takes time to process legally to ensure the right people receive the money.
How Much Compensation Will Families Get?
The compensation structure follows international rules and voluntary support from the Tata Group. The final settlement amount per family is expected to be much higher than the current interim payments. The breakdown is as follows:
- Montreal Convention: Mandatory minimum payment of roughly ₹1.6 to ₹1.8 crore per passenger.
- Tata Group Support: An additional ex-gratia amount of ₹1 crore per family.
- Final Settlement: After all legal checks, total compensation is likely to exceed ₹2.5 to ₹3 crore per family.
