Almost two decades after the horrific event, American Airlines, and United Airlines have agreed to pay a USD$95.1m settlement to the Twin Towers developers.
While this may seem a little strange and distasteful to victims who have been grieving for their loved ones for more than 17 years, the payout means the end of a 13-year litigation.
The battle between the commercial carriers and the owner and developer of World Trade Centre Properties, Larry Silverstein.
According to Sky News, just six weeks before the attack which took the lives of nearly 3,000 people, Silverstein had signed a 99-year lease for the site.
Six years after 9/11, Silverstein received a USD$4.55bn payout from his own insurers, and it will be the airline companies’ insurers who will pay the USD$95m.
The most recent settlement was filed Tuesday in Manhattan federal court.
According to The Chicago Tribune, developers behind the new World Trade Centre buildings asked to be paid USD$3.5b from aviation companies after the hijacked planes destroyed three skyscrapers among five demolished buildings during the attack.
As per the Tribune Lawyers said the agreement signed last week resulted from “extensive, arms-length negotiations” by lawyers “who worked diligently for months.”
The agreement also said 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 said.
American Airlines spokesman Matt Miller said the company is pleased to have reached a settlement.
“We will never forget that terrible day and its lasting impact including the tragic loss of 23 members of the American Airlines family,” Miller said.
Bud Perrone, a spokesman for Silverstein, said the company is “pleased to have finally reached a resolution to this piece of post-9/11 litigation.”
United Airlines declined to make a comment.
