Price-fixing settlement in US reaches $485 million

Eight airlines have agreed to the settlement payments approved by a New York court

Air Canada air cargo British Airways cartel El Al Emirates fuel surcharges LAN Malaysia Airlines New York court price-fixing settlement Saudi Arabian Airlines Shippers South African Airways

The price-fixing settlement payments by eight airlines has reached $485 million as a settlement in the six-year-long class action lawsuit by shippers over the carriers’ involvement in a cartel that fixed fuel surcharges for air cargo. According to the settlement, approved by a court in New York, British Airways will pay $89.5 million, LAN $66 million while Air Canada, El Al, Emirates, Saudi Arabian Airlines, South African Airways and Malaysia Airlines will pay a combined $27.5 million. While the EU fined 11 airlines in 2010, the US has fined more than 20 airlines.