EU Fines 11 Airlines EUR799 Million In Total For Air Cargo Cartel
November 09 2010 - 12:32PM
Dow Jones News
The European Commission Tuesday fined 11 airlines a total of
EUR799 million for forming a global cartel to fix air-freight
tariffs, mainly fuel surcharges.
Air France KLM SA (AF.FR) received the largest fine with EUR310
million, as well as the fine to Netherlands-based Martinair, which
it now owns. British Airways PLC (BAY.LN) was fined EUR104
million.
Other airlines fined include Singapore Airlines Ltd. (C6L.SG),
Qantas Airways Ltd. (QAN.AU), Cathay Pacific Airways Ltd.
(0293.HK), Japan Airlines International Co., Scandinavian airline
SAS AB (SAS.SK), LAN Chile (LAN.SN), Cargolux and Air Canada
(AC.B.T).
Deutsche Lufthansa AG (LHA.XE) wasn't fined because it acted as
a whistle-blower in the case, the commission said.
Many countries around the world, from South Africa to New
Zealand, have been investigating issues related to price fixing in
air cargo. In the U.S., total fines of more than $1.5 billion were
levied against airlines that acknowledged fixing fuel surcharges,
and eighteen airlines have been charged.
-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88;
alessandro.torello@dowjones.com