Martinair exec indicted on charges of price-fixing

An Atlanta grand jury has returned an indictment against an executive of Martinair Holland NV for allegedly participating in a conspiracy to fix and coordinate certain surcharges on air cargo shipments to and from the US, reported Dow Jones Newswires.

The Justice Department, in announcing the move, alleges that Maria Christina "Meta" Ullings, vice- president of cargo sales and marketing, conspired with others to suppress and eliminate competition by fixing and coordinating certain surcharges, including those for fuel, imposed on customers for international air shipments to and from the US from at least as early as January 2001 until at least February 2006.

Ullings is charged with price-fixing in violation of the Sherman Act, which carries a maximum penalty of 10 years in prison and a US$1 million fine. The maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either of those amounts is greater than the statutory maximum fine.

A total of 17 airlines and eight executives, including Ullings, have been charged in the Justice Department's ongoing investigation into price fixing in the air transportation industry. To date, more than $1.6 billion in criminal fines have been imposed and four executives have been sentenced to serve prison time. Charges are pending against four executives, including Ullings.

A Martinair spokesman couldn't immediately be located for comment.
(Source:www.cargonewsasia.com)