$165M Settlement Reached In Philippines Crash

Law360, New York (March 12, 2008, 12:00 AM EDT) -- The families of victims in the Philippines' most deadly plane crash have reached a $165 million settlement with the owners of the allegedly decrepit Boeing 737 that carried more than 130 people to their deaths in April 2000, the plaintiffs' attorneys said.

Chicago-based AAR Aircraft & Engine Group and Fleet Business Credit Corp., which leased the 20-year-old plane to Air Philippines, reached the agreement with families of 103 victims in the crash, attorneys announced this week.

It is the largest settlement for an Asian airline accident,...
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