Officials with the city of Los Angeles announced that they reached a $5.9 million settlement with their insurers due to the Sept. 11, 2001 terrorist attacks, according to the Associated Press. The Federal Aviation Administration ordered that Los Angeles International and Ontario International airports close immediately following the attacks, which resulted in revenue losses for city agency Los Angeles World Airports. The settlement was reached after the city sued Westport Insurance Corp. and Industrial Risk Insurers after they rejected a claim for compensation. Los Angeles World Airports also owns Palmdale Regional Airport and Van Nuys Airport.
Topics Carriers Profit Loss Aviation
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