Australia: Price-fixing airlines cough up millions to settle class action

A class action launched in 2007 against several air cargo competitors found to have colluded to fix service prices has been cleared for settlement, reports say.

A judge approved Friday of a $35 million settlement to be paid to air cargo customers by Qantas Airways, Lufthansa Cargo, Singapore Airlines, Cathay Pacific, and British Airways. The companies were found to have colluded on security and fuel surcharges for international services between 2000 and 2007, according to reports.

Air New Zealand was also the target of the competition investigation, but according to lawyers representing the class, the settlement does not cover that airline.

The agreement to settle the lawsuit was first reached last April.

Full content: Reuters

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