Cargolux agrees to pay Au$5m in price-fixing penalties

By on Feb 10, 2009

Cargolux Airlines International, along with other cargo airlines, has agreed with the Australian Competition & Consumer Commission (ACCC) to pay pecuniary penalties for breaching the price fixing provisions of the Australian Trade Practices Act, 1974

The ACCC and Cargolux will jointly submit to the Court that the penalty should be Au$ 5 million (approximately €26 million)

The proposed settlement still needs to be approved by the Federal Court

According to Cargolux's chairman of the board, Marc Hoffmann, the airline has cooperated with the ACCC and the other authorities throughout the investigation and the legal proceedings

The settlement with the ACCC relates to the charging of fuel surcharges by major carriers for international air cargo shipments

Cargolux was also one of the many airlines under investigation by the antitrust authorities in New Zealand and Europe