LAWSUITS NEWS & LEGAL INFORMATION
Airplane Crash
Chicago, IL: (Mar-10-08) Families of 131 passengers and crew, who died in an airplane crash of Air Philippines Flight 541, brought a wrongful death lawsuit against Chicago-based AAR Aircraft & Engine Group and Fleet Business Credit Corporation. The lawsuit stated that the companies leased a 20-year old Boeing 737 airplane to Air Philippines, an under funded and unsafe start-up airline. The decrepit airplane crashed on approach to Davao, Philippines on April 19, 2000, ultimately resulting in the largest loss of life from an airline crash in Philippine history.
In a settlement reached AAR Aircraft & Engine Group and Fleet Business Credit Corporation agreed to pay $165 million to end the lawsuit. Plaintiffs' lead counsel stated that a company leasing an aircraft has a duty to provide oversight to ensure that passengers fly on airliners with the latest equipment, the best maintenance and finest training available. [THE EARTH TIMES: AMERICAN LEASING COMPANIES PAY $165 MILLION TO SETTLE PHILIPPINES CRASH]
Published on Mar-11-08
In a settlement reached AAR Aircraft & Engine Group and Fleet Business Credit Corporation agreed to pay $165 million to end the lawsuit. Plaintiffs' lead counsel stated that a company leasing an aircraft has a duty to provide oversight to ensure that passengers fly on airliners with the latest equipment, the best maintenance and finest training available. [
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