Cargo cartel settlement Air France to pay US87 million

first_img<a href=”” target=”_blank”><img src=”;cb=INSERT_RANDOM_NUMBER_HERE&amp;n=a5c63036″ border=”0″ alt=””></a> Source = e-Travel Blackboard: S.F An agreement has been reached by Air France KLM to pay fines of US$87 million to settle civil damages in the US, following investigations into its alleged role in an air freight price-fixing cartel.The agreement relates to claims against Air France, KLM and Martinair in the US, but will not affect the results of an ongoing European Union investigation into the cartel, reports Reuters. In a statement released last week, the Franco-Dutch airline group said the agreement was to settle damage claims brought against them in the US that alleged violations of antitrust laws in connection with air cargo shipping services. “Under the terms of the settlement agreement, which is subject to court approval, the carriers will pay a total of $87 million in exchange for a release from all claims by direct purchasers of air cargo shipping services to and from the United States between 2000 and 2006,” the group said. If the US Courts do approve the agreement in its current form, damages will only be paid to direct customers of Air France KLM. This means that anyone who paid for services through a third party will not be reimbursed, reports another media outlet. Michael Hausfeld, the freight shippers’ co-lead counsel, said that while the agreement represented a very important step forward, he looked forward to ensuring that all parties are compensated.Other airlines so far affected by investigations into the cartel include British Airways, Qantas, Cathay Pacific and Korean Air.last_img

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