Of course it doesn't. Risk (of an event) is an aggregate of the severity (of said event) and the probability (of that event happening). The damage is just the s

Of course it doesn't. Risk (of an event) is an aggregate of the severity (of said event) and the probability (of that event happening). The damage is just the severity. It is actually irrelevant in this case how risk is actually calculated from these two because almost no one actually calculates it before a plane ride. (Though it is probably calculated for heads of state/royalty/CEOs/etc..)