Latest news with #OspreyFlightSolutions
Al Arabiya
2 days ago
- Business
- Al Arabiya
After Israel strikes Iran, M.East airlines divert flights, airspace closed
Airlines cleared out of the airspace over Israel, Iran and Iraq early on Friday after Israel launched attacks on targets in Iran, Flightradar24 data showed, with carriers scrambling to divert and cancel flights to keep passengers and crew safe. Proliferating conflict zones around the world are becoming an increasing burden on airline operations and profitability, and more of a safety concern. Six commercial aircraft have been shot down unintentionally and three nearly missed since 2001, according to aviation risk consultancy Osprey Flight Solutions. Israel on Friday said it targeted Iran's nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. Tel Aviv's Ben Gurion Airport was closed until further notice, and Israel's air defense units stood at high alert for possible retaliatory strikes from Iran. Israeli flag carrier El Al Airlines said it had suspended flights to and from Israel. Iranian airspace has been closed until further notice, state media reported. As reports of strikes on Iran emerged, a number of commercial flights by airlines including Dubai's Emirates, Lufthansa and Air India were flying over Iran. Emirates, Lufthansa and Air India did not immediately respond to requests for comment. Iraq early on Friday closed its airspace and suspended all traffic at its airports, Iraqi state media reported. Eastern Iraq near the border with Iran contains one of the world's busiest air corridors, with dozens of flights crossing between Europe and the Gulf, many on routes from Asia to Europe, at any one moment. Flights steadily diverted over Central Asia or Saudi Arabia, flight tracking data showed. 'The situation is still emerging – operators should use a high degree of caution in the region at this time,' according to Safe Airspace, a website run by OPSGROUP, a membership-based organization that shares flight risk information. Several flights due to land in Dubai were diverted early on Friday. An Emirates flight from Manchester to Dubai was diverted to Istanbul and a flydubai flight from Belgrade diverted to Yerevan, Armenia. Budget carrier flydubai said it had suspended flights to Amman, Beirut, Damascus, Iran and Israel and a number of other flights had been canceled, rerouted or returned to their departure airports. The Israel–Palestinian conflict in the Middle East since October 2023 led to commercial aviation sharing the skies with short-notice barrages of drones and missiles across major flight paths – some of which were reportedly close enough to be seen by pilots and passengers. Last year, planes were shot down by weaponry in Kazakhstan and in Sudan. These incidents followed the high-profile downing of Malaysia Airlines flight MH17 over eastern Ukraine in 2014 and of Ukraine International Airlines flight PS752 en route from Tehran in 2020.
Yahoo
13-05-2025
- Business
- Yahoo
Airlines prepare for nuclear war
Airlines are taking steps to ensure that they can keep flying even after the outbreak of a nuclear war. Jets could continue to fly following an atomic blast under special insurance policies being drawn up to address the possibility of conflicts escalating in Ukraine and Kashmir. Current policies that date back to the 1950s would force the grounding of all civil aircraft worldwide in the event of a single nuclear detonation, based on the assumption that this would lead to the outbreak of a third world war. However, with the deployment of nuclear weapons now regarded as more likely to involve so-called tactical warheads used in a limited role on the battlefield, the insurance industry has developed plans to allow flights to continue in regions removed from conflict zones. Gallagher, the world's largest aviation insurance broker, began working on the scheme when Vladimir Putin threatened to deploy Russia's atomic weapons against Ukraine in 2022. Its plans have been given fresh impetus by the clash between India and Pakistan over Kashmir, where hostilities reached a level not seen for decades over the past week. Nigel Weyman, senior partner at Gallagher, said the Ukraine conflict had revived interest in nuclear-related insurance policies. He said: 'Back when the wording was drawn up, it was assumed that any hostile detonation meant that it would all be over, Armageddon. But what they didn't have in those days was tactical nuclear weapons that vary in size and impact and which are, ultimately, very usable.' The latest generation of the American B61 air-launched gravity bomb carries a nuclear warhead with a yield as low as 0.3 kilotons, for example. That compares with 15kt for the bomb dropped on Hiroshima in 1945, and 100kt for a single Trident II missile warhead. While Britain retired its last tactical nuclear weapons in 1998, Russia is believed to have almost 2,000. North Korea unveiled what it claimed was a tactical weapon in 2023, while Pakistan's Nasr missile can also carry a battlefield nuclear warhead. Mr Weyman said: 'Why should Air New Zealand, for example, be grounded in the event of a nuclear detonation in Europe that was quite minor, albeit not for the people near it? 'Airlines find workarounds for whatever challenges they face, safe corridors, minimum heights so that ground-to-air missiles can't reach them. 'Volcanic ash clouds affect big areas, but the world keeps flying. Yet a few words on an insurance policy can ground every jet there is.' The broker has come up with a plan that would see a select number of insurers evaluate where airlines should be permitted to fly after a nuclear detonation, aided by analysis from security experts at risk-management specialists Osprey Flight Solutions. The 15-strong group, which includes Allianz, the world's largest insurer, would meet within four hours of a detonation and evaluate the threat to airlines on a country-by-country basis. The plan would provide each carrier with $1bn (£750m) per plane of war cover for passengers and third parties, compared with $2bn or more under existing policies. Mr Weyman said the cost of the scheme will amount to less than the price of a cup of coffee per passenger, if ever triggered, something 'easily passed on in ticket prices'. Airlines spent about $1.3bn on insurance premiums last year to cover slightly over 4bn passenger journeys, indicating a current cost of around 33 cents per customer. Around 100 airlines have so far signed up to the plan, out of the 500 or so worldwide. About 60 in Europe have joined, though low-cost operators are proving reluctant, Mr Weyman said. Airlines could yet be grounded by other insurance stipulations, including a 'five powers war clause' that terminates cover in the event of a military clash between any of the UK, US, France, Russia and China. That could be invoked in the event of any British or French troops sent to Ukraine being fired on, according to some industry experts. Sign in to access your portfolio
Techday NZ
05-05-2025
- Business
- Techday NZ
Insurwave & Osprey unite to transform aviation risk insights
London-based insurtech firm Insurwave has announced a strategic partnership with aviation risk management specialist Osprey Flight Solutions, where they aim to deliver both integrated and actionable risk insights to the aviation insurance sector. The collaboration, announced on 2 May, will incorporate Osprey's aviation risk data into Insurwave's platform, offering insurance professionals—from underwriters to brokers and risk managers—a unified view of aviation security risks, exposure data, and advanced visualisation tools. "In today's dynamic aviation landscape, staying ahead of risks is critical," said Richard Archer, Chief Strategy Officer at Insurwave. "Our partnership with Osprey Flight Solutions underscores our commitment to equipping insurance professionals with tools that provide unparalleled accuracy and efficiency in assessing and managing risk. Together, we're setting new benchmarks for the aviation insurance market." The integration is designed to support quicker, data-driven decision-making in a sector increasingly affected by complex risks, including geopolitical tensions, regulatory instability and incidents involving misidentification of aircraft in conflict zones. Andrew Nicholson, Chief Executive Officer at Osprey Flight Solutions, said: "This partnership represents a significant step forward in aviation risk management. By combining Osprey's ability to deliver precise, actionable aviation risk data with Insurwave's industry-leading insurance platform, we are creating a game-changing capability. "Together, we empower our clients to navigate the ever-evolving array of aviation security risks with confidence, clarity, and efficiency, enhancing the safety and security of global flight operations." The companies highlighted that the partnership directly addresses pressing challenges faced by the aviation industry. Among these are the increasing number of operational threats in conflict zones and the regulatory volatility surrounding flight paths, which demand real-time, high-fidelity data to support underwriting and exposure decisions. Recent case studies, including analyses of incidents in Russian airspace, were cited in the announcement as examples of where accurate, timely data was critical to managing risk. The new integration is expected to reduce response times and provide insurance stakeholders with improved situational awareness. The Insurwave platform currently provides exposure and data management capabilities across the specialty insurance market. With the addition of Osprey's aviation insights, users will now benefit from a centralised solution which has been designed to modernise how aviation risks are visualised and evaluated. Both companies are positioning this partnership as a model for how technology and risk intelligence can work together to advance industry standards in specialty insurance. The platform enhancement is now available to Insurwave users, with both firms signalling ongoing collaboration to expand capabilities in line with evolving aviation and geopolitical risks. Would you like help pitching this article to an outlet or formatting it for print?
