Can We Save Money with Safety? A Novel Approach for Assessing Benefits of Safety in the Aviation Industry

In this paper we describe a new approach for assessing the benefits of safety measures in the aviation industry. This approach spans from the identification of target safety levels for the aviation industry to the development of a model of the air transport system. The most contributory factors to direct and indirect costs of accidents/incidents are also considered in order to provide all the elements for carrying out cost benefit analyses.