Analysts estimate economic losses at more than $135bn as the fires burn through some of the most expensive property in the US.

The Los Angeles wildfires are set to be the costliest blaze in U.S. history, analysts said Thursday, as the first initial estimates of damage from the infernos soared with their unchecked spread. Total economic losses from the fires are now pegged at close to $50 billion,

Former L.A. Fire Air Ops. crew chief Mike Dubron provides his assessment of the scope and response to the California wildfires and discusses the aerial firefighting capabilities.

The destruction caused by the Los Angeles-area wildfires, possibly the worst ever in California, is almost certain to rank as one of the most costly natural disasters in U.S. history, with the total economic toll well into the tens of billions of dollars.

The wildfires burning across Los Angeles could be among the costliest natural disasters in U.S. history. The blazes — which are ripping through some of the nation’s priciest real estate — are likely to cause between $52 billion and $57 billion in damages and economic loss,