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As planes return to the sky, airline accidents increase

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The good news is that aviation is starting to return to normal, but the bad news is that aviation accidents have risen over the past year.

The number of commercial jet aircraft accidents rose in 2021 over the previous year, reflecting an increase in global flights.

It’s been a rocky few years for global aviation, battered by the pandemic and higher oil prices around the world.

There were 23 commercial jet aircraft accidents in 2021, according to the 53rd edition of Boeing’s annually updated report.

Read the full report here: Statistical Summary of Commercial Jet Airplane Accidents: Worldwide Operations: 1959-2021.

Only one accident was fatal – a Sriwijaya Air Boeing 737-500 that lost altitude shortly after take-off on 9 January 2021.

The aircraft took off and crashed into the ocean off the coast of Indonesia.

Six crew members and 56 passengers died and the aircraft was destroyed.

The global commercial jet fleet logged about 46.9 million flight hours in 2021, up 11% from 42.2 million hours in 2020, seen as the worst year of the pandemic.

There were 17 commercial jet accidents in 2020, three of which were fatal.

Four of the accidents in 2021 resulted in hull losses, meaning the aircraft was damaged beyond repair.

Declining number of accidents

The annual global rate of fatal accidents involving commercial jets has been less than 0.2 per one million flights over the past decade – down from an annual rate between roughly 0.4 and 0.8 the prior decade.

“Over the past 63 years, hull losses and onboard fatalities declined dramatically while the number of flights continued to increase,” the Boeing report says.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Business

BlockFI the latest crypto collapse

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The contagion from the FTX crypto collapse has claimed another major scalp.

Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy.

BlockFi claimed more than 100,000 creditors with liabilities up to $10 billion.

BlockFi was founded in 2017 and is now hoping bankruptcy protection will allow it to stabilize the company and restructure.

In a statement, the company says:

“With the collapse of FTX, the BlockFi management team and board of directors immediately took action to protect clients and the Company,”

“From inception, BlockFi has worked to positively shape the cryptocurrency industry and advance the sector.”

Days after FTX declared bankruptcy, BlockFi said it had significant exposure to FTX and its other corporate entities.

BlockFi is now the fourth crypto-focused company to seek bankruptcy protection this year, following FTX, Voyager Digital, and Celsius Network.

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It’s Musk v Twitter in tech war

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A war has broken out between Elon Musk in his battle against Apple.

In a tweet, owner Musk says Apple may ban Twitter from the App store, which would be devastating for his company, and wonders if it has to do with free speech. He even tagged Apple boss Tim Cook.

Musk says: “Apple has threatened to withhold Twitter from its App Store, but won’t tell us why.”

This all comes in the wake of other organisations allegedly following Apple’s suit and cutting back their advertising spending since the $44 billion Musk takeover.

General Mills and Pfizer have been two companies that have gone down this path and diverted their spending elsewhere.

Right now users can still see ads in their Twitter feeds.

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China protests hit global markets, crypto

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Investor watches markets

The protests in China are having a negative impact on cryptocurrencies and markets around the world.

Bitcoin failed to break its descent and fell more than 3 percent.

The global crypto market cap fell over 2%, sending major cryptos into the red.

Over the last 24 hours, overall crypto market volume grew by 22%.

It comes amid a round of investor nervousness in global markets spurred by protests in China against Covid restrictions.

Protesters outraged by harsh COVID-19 regulations called for China’s strong leader to quit.

China is the world’s second-largest economy and has a significant impact on global financial markets.

Stocks and cryptos aren’t considered safe havens, leading to bearing price action.

Analysts are hoping for a sharp bullish reversal if and when the protests end.

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