Germanwings’ parent company Lufthansa is anticipating costs of up to $300 million following the Germanwings plane crash in the French Alps which claimed the lives of 150 people.

A spokesperson for Lufthansa said the company’s insurers had already set aside the funds, with the majority being spent on financial compensation for relatives of those killed.

• Germanwings co-pilot had ‘suicidal tendencies’
• Who was Germanwings co-pilot Andreas Lubitz?

The $300 million will also cover the loss of the destroyed aircraft, which is valued at $6.5 million.

Earlier this week Lufthansa announced it would pay an initial sum of $54,000 to relatives of passengers killed on the doomed flight.

Audio from the plane’s black box cockpit voice recorder last week revealed co-pilot Andreas Lubitz deliberately crashed the plane after locking the captain out of the cockpit.

Mr Lubitz, 27, had a history of mental illness, and according to German state prosecutors, suicidal tendencies.

On Tuesday, Lufthansa admitted it knew about the pilot’s medical history but stood by its decision to deem Mr Lubitz “100 per cent flightworthy without any limitations”.

According to a report by the New York Times, Mr Lubitz told Lufthansa’s training school in 2009 he had suffered “a previous episode of severe depression”.

Documents found in the pilot’s apartment indicated he was afraid of losing his job with the airline because of issues with his vision and his mental health history.

A search of his apartment found Mr Lubitz has medical notes declaring him too sick to work on the day of the crash.