Word: pans
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Dates: during 1970-1979
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Another problem was that no one, in Habash's absence, emerged as a clear spokesman for the P.F.L.P. That made almost any remark by an individual commando appear to be a Front demand. One hijacker aboard the Pan American 747, for instance, told passengers that the Front would demand freedom for Sirhan B. Sirhan, convicted assassin of Senator Robert F. Kennedy. The assertion was quickly denied by other Popular Front members...
...could be shot, as well as the possibility that a stray bullet could sever hydraulic lines or other vital controls and cause the plane to crash. Last week, however, President Nixon's proposal to put sky marshals on U.S. planes received the support of Najeeb Halaby, president of Pan American World Airways, and the U.S. Air Line Pilots Association. ∙ One nation that has been willing to risk gun fights in mid-air is Israel. Its El Al airline has probably developed the most comprehensive antihijacking system in existence. Although the Israelis refuse to reveal all details...
...problems created by the destruction of a Pan American World Airways 747 in Cairo at the beginning of the week were indicative of the industry's dilemma. The 747, insured for $24.5 million, was covered by two kinds of policies-"all risk" insurance, placed largely with a U.S. consortium, and "war risk" protection, 60% underwritten by Lloyd's of London and 40% by the U.S. Government. "All risk" encompasses normal flight hazards including, in U.S. practice, damage to a plane hijacked to Cuba. "War risk" covers loss by enemy action during war. But nowadays, what...
...risk" insurers are indeed found liable for Pan Am's 747, then the Federal Government will be out about $9.7 million, or 40% of the plane's value. Under the Federal Aviation Act of 1958, Washington may offer such insurance when private firms are unwilling to sell it at reasonable rates. The companies had declined to provide more than partial coverage for the costly 747s. The Federal Government therefore agreed to make up the difference for jumbo jets on international flights, starting last July 31. Washington's insurance fund is so new that premiums had brought...
...reports that Lloyd's vigorously denied. What was happening was that Lloyd's members were taking advantage of their options to raise "war risk" insurance premiums by 25% to 100% because of the increasing haz ards. Such action comes at a particularly awkward time for U.S. airlines. Pan Am, for example, lost $19.6 million in the first half of 1970, and higher "war risk" premiums might add millions of dollars to its operating costs without increasing revenues...