New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
Over seven flights had either crashed or completely vanished in the course of 12 months resulting in 761 deaths. These events do beg the question whether 2014 was one of the worst years in the history of aviation. The answer on the contrary is no, according to the statistics it has proven to be one of the safest. However, one has to see the bigger picture to understand what all the fuss is about; last year approximately 32 million commercial departures had transpired. The accident rate, however, was 0.24 out of one million, which equals to less than one accident for every one million flights. Ironically, the most dangerous part of air travel is driving to the airport!
Undoubtedly, the aviation industry has been making progress in leaps and strides in the aftermath of disasters with the end result that air travel has become the safest medium of transport in the world. But the elephant in the room that needs to be addressed is how do behemoth planes just disappear into thin air in areas well covered by radar as witnessed in the case of MH 370 and more recently, Air Asia’s flight QZ8501. Their disappearances, without any conclusive explanations, have left a void only to be filled by conspiracy theories that, although vivid, don’t provide a reasonable explanation as to how these aircraft managed to disappear.
The authorities concerned should look into the matter as soon as possible and come up with a solution that doesn’t hamper travel schedules yet ensures maximum efficiency for the air carriers. Perhaps they could use better weather forecasting methods that would guide planes through precarious weather conditions safely and install special tracking beacons that would alert radars and ensure that planes are never lost.
New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
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