Managing/mitigating risk does not negate or remove the risk from the activity it just makes the risk more acceptable.
Risk in an activity is based on the potential for damage, injury, and or death. Just because the risk is mitigated does not mean the activity is inherently safe it just means that the risk is/can be managed managed to the point where it is acceptable for participation.
In the example of commercial flight, managing risks reduces s the likelihood of catastrophe which makes it more acceptable to participate as pilot, cree, or passenger, but the potential for disaster is ever present should things go wrong.
Operation risk management/risk management in general is not about removing risk, it's about understanding the risk and employing measures to reduce the possibility of being impacted by the risk.
-Z