Lagos - The Dana Air on Tuesday said that its ill-fated plane that crashed on June 3 at Iju-Ishaga, Lagos had two levels of insurance cover valued at 354 million dollars.
The Head of Corporate Communications, Mr Tony Usidamen said in Lagos that the insurance cover was for the aircraft and third party liabilities.
He said that the airline had all the required insurance cover and was fully up to date with policy payments.
"The flight had two levels of insurance cover, 4.5 million dollars for the value of the plane and 350 million dollars for third party liabilities.
"The speculation that the company did not have the requisite insurance or was behind on its insurance premium payments was unfounded.
"The airline has all required insurance cover and is fully up to date with policy payments.
"Our insurers are Prestige Assurance Plc in Nigeria and the Lloyds of London in England,’’ he said.
Usidamen said that the airline was not operating a free seating policy as at the time of the accident of flight 9J-992 that crashed in Iju-Ishaga, Lagos.
"Dana Air will like to respond to insinuation that the airline was operating a free seating policy at the time of the accident and that this might hinder the investigation being carried out by the Accident Investigation Bureau.
"The company can state categorically that our free seating policy was halted in August 2011 and except on very rare occasions where flights were combined.
"The airline has since operated an allocated seating system, which was the case with flight 9J-992 of June 3 that crashed at Iju-Ishaga.’’
Usidamen, however, restated that the company was working with the Lagos State Emergency Management Agency to provide aids and other forms of rehabilitation to the displaced Iju-Ishaga residents.