NEW YORK: Finally a settlement has reached by the Insurers for American Airlines and United Airlines to pay part of a $95 million claim for alleged security lapses which led to the 9/11 World Trade Center attack.
The settlement deal, which includes other aviation companies, will go to World Trade Center developer Silverstein Properties, which had originally demanded billions from the airlines and airport security.
The deal comes at the end of ‘extensive, arms-length negotiations’ over several months, lawyers for both sides 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,” they said.
World Trade Center Properties has already been awarded more than $5 billion from other defendants, which has helped fund the reconstruction of the area where the twin towers once stood.
“We will never forget that terrible day and its lasting impact including the tragic loss of 23 members of the American Airlines family,” said AA spokesman Matt Miller.