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Insurers set aside $300 million to deal with costs of Germanwings crash

People and family members of a victim pay tribute next to a stele and flowers laid in memory of the victims in the area where the Germanwings jetliner crashed in the French Alps, in Le Vernet, France, Friday, March 27, 2015. The crash of Germanwings Flight 9525 into an Alpine mountain, which killed all 150 people aboard, has raised questions about the mental state of the co-pilot. Authorities believe the 27-year-old German deliberately sought to destroy the Airbus A320 as it flew Tuesday from Barcelona to Duesseldorf.
People and family members of a victim pay tribute next to a stele and flowers laid in memory of the victims in the area where the Germanwings jetliner crashed in the French Alps, in Le Vernet, France, Friday, March 27, 2015. The crash of Germanwings Flight 9525 into an Alpine mountain, which killed all 150 people aboard, has raised questions about the mental state of the co-pilot. Authorities believe the 27-year-old German deliberately sought to destroy the Airbus A320 as it flew Tuesday from Barcelona to Duesseldorf. AP Photo/Christophe Ena

BERLIN – Lufthansa says its insurers are setting aside $300 million to deal with possible costs resulting from last week’s crash of a Germanwings jet in the French Alps, in which 150 people died.

Lufthansa spokeswoman Kerstin Lau confirmed a report on the set-aside in the daily Handelsblatt on Tuesday. She said $300 million is the amount currently reserved to deal with “all costs arising in connection with the case.”

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Last week, the company offered immediate aid of up to 50,000 euros ($54,250) per passenger to relatives of the victims. Those payments are separate from eventual compensation payments.

Prosecutors believe, based on data from the cockpit voice recorder, that the Airbus A320’s co-pilot locked his captain out of the cockpit and deliberately crashed Flight 9525 from Barcelona to Duesseldorf last Tuesday.

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