It's Air France's deadliest crash - and it could turn out to be the most expensive plane crash yet.
Every passenger aboard a flight is automatically covered by the airline's insurance.
This is all regulated by the Montreal Convention. 91 countries are signatories - including France and Brazil.
Montreal Convention (titre)
Air carriers are liable for damages up to 140,000 euros
The treaty sets compensations levels. For example air carriers are liable for damages up to 140,000 euros per person injured or killed. That amount is to be payed to the victim's families.
There is also secondary insurance that is available.
SOT Patrick de la Morinerie, Deputy CEO AXA Corporate
To understand this - if a father died on the flight leaving behind young children, the family would be eligible for more compensation than a single person without children.
AF 447 - Cost Estimate (titre)
Between 234 and 536 million euros
The cost of compensating the victims families could reach between 234 and 536 million euros.
Airplane Replacement Cost (titre)
List price for new plane
143 million euros
Insured price for plane
67.4 million euros
AXA - is Air France's insurance company. The price of a new Air Bus is 143 million euros. However the plane was insured for just 67.4 million euros.
But no money is likely to be paid out until the insurance investigation is concluded.
Like in the crash on November 12, 2001
260 people died when the air bus flown by american airlines crashed into a Queens neighborhood in New York.
Eight years later - some of the victims families have still not been fully compensated.