Insight and Intelligence on the Global Facultative Markets

5 February 2012

Ace leads $360mn Jeddah loss

13 August 2010

Ace Group is understood to lead the largest aviation loss of the year to date, the estimated $360mn Saudi Arabian Airlines warehouse house on 10 June, Inside FAC can reveal.

The fire, at Jeddah airport, destroyed a number of aircraft and spare parts for the airline, and is being viewed as a total loss by the aviation market.

Although Ace leads the loss, it is nonetheless understood to be well spread around the aviation market.

The blaze began around 1pm...

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