A federal judge on Thursday rejected developer Larry Silverstein's bid to recover billions of dollars from two airlines whose planes were used in the Sept. 11, 2001, attacks, a significant setback in his nearly decadelong fight for more money to rebuild the World Trade Center.

After a four-day bench trial in Lower Manhattan this week, U.S. District Court Judge Alvin Hellerstein ruled that an investment group led by Mr. Silverstein had already received all the compensation for which it is eligible: the $4.1 billion paid by property insurers in 2004.