Malaysia Airlines is expected to declare MH370 as lost by the year end, opening up the payment of full compensation to victims’ next of kin.
The airline’s commercial director Hugh Dunleavy said the governments of Australia and Malaysia are still discussing an official date but it is likely to be within the next two months.
Dunleavy said the Montreal Convention sets a ceiling on compensation payments of this kind at US$175,000, but passengers have the option to take legal action for higher payments.
"We will ensure we do compensate them for the loss of their loved ones through our insurers," Dunleavy said.
"We’re always learning from situations but the motivation and drive has been to look after the next of kin, we are trying to hurry compensation as much as we can but some of these things are outside the scope of the airline."
Dunleavy added that it was more straightforward in the case of MH17, which was shot down over Ukraine.
"We know exactly what happened with that aircraft and we can move ahead with the full compensation of family members."
