Supply Chain News / Risk & Compliance / Air Cargo

Air Cargo Carriers Get Court Approval for Price-Fixing Settlement

August 8, 2012
KEYWORDS price fixing
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British Airways and Chile’s LAN Cargo were among eight airlines that got final court approval for a settlement in a six-year-long class action lawsuit by shippers over the carriers’ involvement in a cartel that fixed fuel surcharges for air cargo.

Under the agreement, approved by a court in New York, British Airways will pay $89.5 million and LAN $66 million.

Air Canada, El Al, Emirates, Saudi Arabian Airlines, South African Airways and Malaysia Airlines will pay a combined $27.5 million.

This is the third settlement in the lawsuit and brings total payments so far to $485 million.

The lawsuit followed criminal investigations in the U.S., the European Union, Canada, South Korea, Australia and New Zealand into an alleged global price-fixing cartel in 2000-2006 involving more than 24 airlines.

The EU fined 11 airlines, including BA, Air France-KLM and Cargolux, $1.1 billion in 2010 for their role in the cartel.

The U.S. so far has fined more than 20 airlines more than $1.7 billion.

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