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

Industries Associated Press

Chicago, IL, USA - March 17, 2016: A United Airlines 747-400 landing on 28C at the Chicago O'hare Airport. (vandervliet93)

Insurers for defendants including American Airlines and United Airlines have agreed to pay $95 million to settle claims that security lapses led planes to be hijacked in the Sept. 11 attacks.

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

Developer Larry Silverstein and World Trade Center Properties have collected over $5 billion from other defendants through numerous lawsuits. The money has aided the reconstruction of buildings on the 16-acre lower Manhattan site.

Earlier settlements included $135 million paid to a financial services firm that lost two-thirds of its employees.