Home
>>
China
Last updated at: (Beijing Time) Sunday, November 25, 2001
China Extends Government Guarantee for Airlines
The Chinese government has decided to extend its guarantee for war liabilities to airlines for one month, beginning November 25.
PRINT IT
DISCUSS IT
CHINESE
SEND TO FRIENDS
The Chinese government has decided to extend its guarantee for war liabilities to airlines for one month, beginning November 25.
The government guarantee will apply for only the part of liabilities exceeding 50 million U.S. dollars.
The Chinese government first offered its guarantee on September25, when international aviation insurers lowered the ceiling for third party indemnities arising from war to 50 million U.S. dollars after the September 11 terrorist attacks in the
United States
. This failed to not satisfy the needs of airlines, it is learned.
Advanced
China Allows Airways to Impose Insurance Surcharge
State Aviation Authority to Provide Extra Insurance for Airlines