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Recent Editions
Risk Channel
North America
Amazon has paused operations with cargo carrier 21 Air after an Amazon-branded aircraft overshot the runway at Miami International Airport, killing five people and crashing into nearby vehicles before stopping 1,300 feet beyond the runway with its right engine on fire. The National Transportation Safety Board is investigating the accident, with 21 Air’s safety practices, its relationship with Amazon and the pilots’ actions among the areas under scrutiny after investigators indicated that the pilots belatedly decided to redo their landing before opting to brake and stop the aircraft. 21 Air, which is owned by logistics businessman and Houston Astros owner Jim Crane, operates around 17 aircraft, including eight that fly for Amazon, and has worked with the ecommerce group for nearly two years.
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Risk Channel
UK/Europe
German finance minister Lars Klingbeil has met UniCredit CEO Andrea Orcel to seek guarantees over the future of Commerzbank, as the Italian lender prepares to complete a takeover of its Frankfurt-headquartered rival. "It is of paramount importance to the federal government that Commerzbank can continue to fulfil its vital role in financing the German economy," Klingbeil said after the meeting. "We expect Commerzbank to remain a listed company headquartered in Frankfurt and to continue its strong focus on financing small- and medium-sized businesses." German finance ministry spokesperson Maximilian Kall added: "The most important [point] of all . . . regards the over 40,000 employees. We want to protect their interests."
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