David Dao's legal team announced the settlement Thursday in a brief statement. The agreement includes a provision that the amount will remain confidential.
Cellphone video of the April 9 confrontation aboard a jetliner at Chicago's O'Hare Airport sparked widespread public outrage over the treatment of Dao.
The footage showed airport police officers pulling the 69-year-old father of five from his seat and dragging him down the aisle. His lawyer says he lost teeth and suffered a broken nose and a concussion.