Airline defendants to pay $95 million in 9/11 settlement

Insurers for American Airlines, United Airlines and other aviation defendants agree to pay $95 million to settle claims that security lapses led planes to be hijacked in the Sept. 11 attacks.

The settlement is described in papers filed in Manhattan federal court yesterday. Developers of the new World Trade Center buildings had once demanded $3.5 billion from aviation-related companies after hijacked planes destroyed three skyscrapers among five demolished buildings on Sept. 11, 2001.

Lawyers say the agreement signed last week resulted from “extensive, arms-length negotiations” by lawyers “who worked diligently for months.” The agreement also says the parties make no admissions or concessions with respect to liability for the attacks.

“The court’s approval of the settlement agreement will bring to a close this hard-fought 13-year litigation on terms agreeable to the parties,” the lawyers say.

— AP