The worsening military conflict in Sudan could push aircraft insurance premiums higher, adding to already significant cost pressure on airlines resulting from Russia’s invasion of Ukraine. What’s more, the insurance sector and its customers could take another financial hit when the fate of hundreds of Western-made aircraft trapped in Russia eventually gets resolved, according to Nigel Weyman, aerospace global executive with insurance and risk management group Gallagher.
The war-related risks, against a backdrop of other global tensions such as China’s increasingly aggressive stance over Taiwan, have raised concern despite an otherwise-improving situation for airlines, Weyman told AIN. “Since 2019, the industry has had a pretty good run with [relatively few] accidents,” he commented. “Partly this is due to the lack of flying during Covid, but since the restart [of operations] airlines have been very well-organized and safe.”
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