EU fines airlines for fixing cargo prices

BRUSSELS. November 10. KAZINFORM The European Union says it is fining 11 airlines a total €799.4 million for fixing prices on international cargo shipments.

The EU's executive says Tuesday "the carriers coordinated their action on surcharges for fuel and security without discounts" between early 1999 and 2006.

The fined airlines are Air Canada, Air France-KLM, British Airways, Cathay Pacific, Cargolux, Japan Airlines, LAN Chile, Martinair, SAS, Singapore Airlines and Qantas.

Lufthansa escaped a fine because it blew the whistle on the cartel.

The US Department of Justice has already charged 18 airlines and several executives in its investigation of the cargo cartel and imposed more than $1.6 billion in fines, The Arab News reports.

See www.arabnews.com