Qantas settles price fixing case in New Zealand
Qantas has reached a settlement with the New Zealand Commerce Commission in relation to price fixing activities within its freight division between 2000 and 2006.
The terms of the settlement have not been disclosed, but include agreement to recommend to the New Zealand High Court that Qantas pays a fine of NZ$6.5 million. This recommended penalty reflects a 50% discount for the airline’s cooperation with the Commission in its investigation of the cartel. The penalty hearing is set for April 11th, at which time Qantas will plead guilty to participating in the cartel with other international airlines, including Air New Zealand. Qantas has already resolved its liability (and that of its current employees) to regulators in the US, Australia, Canada, Korea and Europe for its freight division’s conduct. In each case the fine imposed on Qantas reflected a considerable cooperation discount. Quelle: eyefortransport |