Sir Freddie Laker agreed to settle his lawsuit.

British Airways said that Laker agreed to drop all claims and accept an out-of-court settlement providing $48 million for creditors and $8 million for him personally. Laker had contended that the world’s airlines conspired to bankrupt his Laker Airways, a discount transatlantic carrier that collapsed in 1982. The British airline said it was in accordance with a deal struck in Washington last month between the Laker liquidator and 12 defendants--10 of them major airlines--that the liquidator was suing for $1 billion on antitrust grounds.