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Boeing 737 Crashes 62 People On Board

Boeing 737 has Crashed 62 People On Board

There were 56 passengers and six crew members on board.

Flightradar24 said that Flight SJ182 “lost more than 10,000 feet of altitude in less than one minute, about 4 minutes after departure from Jakarta”.

Jakarta Provincial Fire and Rescue Service announced on its Twitter account that searchers have found debris as they frantically sweep the area in search of the Sriwijaya Air jet, which lost contact with aviation authorities shortly after departing from Jakarta on Saturday.

Footage on social media shows searchers holding up wires and other bits of material that were found floating in the bay during the operation. 

Sriwijaya Air
Sriwijaya Air
Sriwijaya Air

The Sriwijaya Air jet carrying more than 60 people was traveling from Indonesian capital Jakarta to Pontianak in West Kalimantan province and lost contact shortly after taking off on Saturday.

Indonesia, the world’s largest archipelago nation with more than 260 million people, has been plagued by transportation accidents on land, sea and air because of overcrowding on ferries, aging infrastructure, and poorly enforced safety standards.

A Boeing 737 MAX operated by Indonesian airline Lion Air crashed off Jakarta in late 2018, killing all 189 passengers and crew. The plane that lost contact on Saturday is a much older model.

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Sriwijaya Air

Sriwijaya Air is an Indonesian airline based in Jakarta with its headquarters located at Soekarno-Hatta International Airport M1 Area in Tangerang, near Jakarta. Sriwijaya Air is the country’s third largest carrier, operating a fleet of narrow-body aircraft, and offers flights to various Indonesian destinations and a few international destinations. The airline is listed as a Category 1 airline by Indonesia’s Civil Aviation Authority, the highest status that can be achieved for operational safety.

In November 2018, Garuda Indonesia through its subsidiary Citilink took over operations as well as financial management of Sriwijaya Air by a cooperation agreement (KSO).

On November 8, 2019. Cooperation Agreement (KSO) between Garuda Indonesia and Sriwijaya Air was terminated, marked by the resumption of Sriwijaya Air’s ground service equipment which was originally stored while the Cooperation Agreement (KSO) was in progress. This is because PT. GMF Aero Asia .Tbk and PT. Gapura Indonesia. Tbk as subsidiaries from Garuda Indonesia Grup unilaterally stopped providing services to Sriwijaya Air passengers and causing various delays and abandoned passengers because the Sriwijaya Group did not pay in cash to the Garuda Indonesia Group for the provision of the service facilities.

S. Jack Heffernan Ph.Dhttps://www.shayneheffernan.com
S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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