Yemenia Airways aircraft destroyed in Israeli strikes on Sanaa Airport uninsured

By Michael Jones

May 8 - (The Insurer) - Yemenia Airways aircraft that were destroyed as part of the Israeli military’s airstrike on Sanaa International Airport in Yemen on Tuesday were uninsured, four senior aviation market sources told The Insurer.

The Israeli military carried out an airstrike on Yemen's main airport in Sanaa on Tuesday after the Iran-aligned Houthis launched a missile attack near Israel's Ben Gurion Airport.

"The strike was carried out in response to the attack launched by the Houthi terrorist regime against Ben Gurion Airport. Flight runways, aircraft, and infrastructure at the airport were struck," the Israeli military said referring to the Yemen airport.

An official at Yemen's flag carrier Yemenia Airways told Reuters that three of its aircraft were destroyed according to an initial assessment.

Four senior aviation market sources said that the destroyed Yemenia Airways aircraft were not insured and have been grounded at Sanaa Airport for a number of months.

These sources said that Yemenia’s all-risks cover is broked by Price Forbes. A source close to the broker confirmed this to The Insurer.

While the uninsured nature of these aircraft means there will not be an immediate impact, one senior aviation broking source said the incident reaffirmed broader market concerns around the geopolitical friction facing aviation insurers on a number of fronts.

Another source pointed to the Russian war in Ukraine and this week’s escalation between India and Pakistan as examples. Two senior aviation market sources said no insurers have given notice as yet with regards the latter.

Price Forbes declined to comment. Yemenia Airways did not immediately respond to a request for comment.