FRANKFURT--Deutsche Lufthansa AG's (LHA.XE) insurance consortium
has set aside around $300 million in provisions for possible damage
claims in connection with the Germanwings crash, a spokesman for
Germanwings" parent Lufthansa said Tuesday.
The airline's consortium, which is led by Allianz SE (ALV.XE),
wasn't immediately available for comment.
In addition to financial compensation for the relatives of the
150 airplane victims, Lufthansa will also have to cover claims for
the destroyed aircraft, which has been insured for an amount of
about $6.5 million, according to a report in German daily
Handelsblatt.
Lufthansa earlier said it will pay out an initial sum of 50,000
euros ($54,000) a person to the relatives of passengers on the
Germanwings Flight 9525 that crashed in the French Alps last
week.
-Write to Natascha Divac at natascha.divac@wsj.com
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