The original demand was for them to pay $3.5 billion
Insurers for airlines whose planes were involved in the September 11 attacks in the US more than 16 years ago have agreed to pay $95 million to settle claims. The claims concern security lapses that led the aircraft to be hijacked.
Developers of the new World Trade Center buildings had earlier demanded $3.5 billion from aviation companies. Lawyers said the parties, which include American Airlines and United Airlines, make no admissions or concessions regarding liability for the attacks.
The approval by a court in Manhattan of the agreement follows “extensive, arms-length negotiations” by lawyers “who worked diligently for months,” the lawyers said. “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.”
Money for reconstruction
Developer Larry Silverstein and World Trade Center Properties have already collected more than $5 billion from other defendants via lawsuits – money which has gone towards the reconstruction of buildings on the 16-acre site of the attack.
American Airlines said it was pleased to have reached a settlement, while United Airlines declined to comment.