Air France-KLM to pay US$87 million in anti-trust lawsuit

AIR FRANCE-KLM has agreed to pay US$87 million in settlement fees in a civil anti-trust lawsuit in the United States over alleged price-fixing in the air freight sector.

"This is an important settlement," Michael Hausfeld, a lawyer for the freight shippers, was cited as saying in a statement, reported Bloomberg. "We now look forward to seeking appropriate redress for the indirect shippers, who also suffered substantial unlawful overcharges as a result of the cartel."

A Bloomberg report said the latest settlement will reimburse direct buyers of Air France's cargo services, including Kuehne + Nagel International and Volvo, which ships parts both directly and indirectly.

"We are disappointed that this global cartel member fails to compensate us for any of the shipments we made through an intermediary," said Volvo lawyer Lars Bertler. "We intend to pursue our claims for all damages caused by the airfreight cartel."

The deal affects claims by companies which purchased shipping services to and from the US from the three airlines of the group, Air France, KLM and Martinair, between 2000 and 2006. But it does not affect the outcome of a European Union anti-trust enquiry, which is still pending, said Reuters.

"Air France, KLM and Martinair have entered into an agreement to settle damage claims brought against them in the United States alleging violations of the antitrust laws in connection with air cargo shipping services," said a statement from the airline group.

"Under the terms of the settlement agreement, which is subject to court approval, the carriers will pay $87 million in exchange for a release from all claims by direct purchasers of air cargo shipping services to and from the United States between 2000 and 2006," the statement said.

The sum will be deducted from provisions posted in 2008, the report said.

The investigations that have stretched to South Korea, Canada and Australia have led to hefty fines for a number of leading airlines embroiled in the same air freight price-fixing conspiracy that became the subject of official probes dating back to 2006.
(Source:www.schednet.com)