Jun

26

DOJ Obtains Guilty Pleas from Four More Airlines for Price-Fixing International Cargo Rates

Posted by : Matthew Wild | On : June 26, 2008

On June 26, 2008, the Antitrust Division announced that Air France (and KLM Royal Dutch Airlines), Cathay Pacific, Martinair Holland and SAS Cargo Group entered into plea agreements for their participation in the cartel to fix air cargo rates. They agreed to fines of more than $504 million. Air France-KLM agreed to pay $350 million — the second largest fine for an antitrust conviction in U.S. history. Cathay agreed to a $60 million fine; Martinair agreed to a $42 million fine; and SAS agreed to a $52 million fine. So far, the Antitrust Division has obtained $1.27 billion in fines from guilty pleas by cartel participants. This is the largest amount of fines ever imposed as a result of a criminal antitrust investigation. The Antitrust Division’s press release is attached.  DOJ Press Release (International Cargo Cartel)

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