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light aircraft accident risk?

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On p39 of the Sept. 2014 issue of Sport Pilot is an article about a court case, in which it says:


"the court found the risk likely to materialise even though it had a low probability of occurring (based on statistical evidence that 1 in 500 light aircraft flights in 2007 ended in a serious accident)."


1 in 500 flights? Seems very high: some schools would have an accident every week!


Any thoughts?



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