Friday, November 12, 2010

Air Cargo carriers fined by EU

The list of the aircargo carriers fined for price fixing has been made known.

They are; Air France-KLM, British Airways, Cargolux, SAS, Singapore Airlines, Air Canada, Quantas, LAN Chile, Martinair, and Japan Airlines.

From DW World

The European Union's competition watchdog issued fines Tuesday to 11 airlines totaling 799.4 million euros ($1.1 billion) for running a global cargo cartel.

The cargo carriers were found to have coordinated their action on surcharges for fuel and security over a six-year period, between 1999 and 2006.

Air France-KLM was hit with the largest fine of 310 million euros. British Airways came in second, having to pay a 104-million-euro penalty. Luxembourg's Cargolux will have to pay 79.9 million euros, while Scandinavian carrier SAS was ordered to pay 70.2 million euros.

Other airlines involved in the cartel and slapped with fines were Singapore Airlines, Air Canada, Quantas, LAN Chile, Martinair and Japan Airlines.

The Commission said it dropped charges against eleven other airlines, including German carrier Lufthansa and its subsidiary Swiss Air, because it was the first to provide information about the cartel.

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