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Qantas pays regulator $12M for cargo price fixing

Qantas pays regulator $12M for cargo price fixing

Qantas Airways Ltd. said Tuesday it had agreed to pay Australia's competition watchdog a 20 million Australian dollar ($12 million) fine for the airline's part in a price-fixing cartel in the global air freight industry.
U.S. authorities fined the airline $61 million last year over the same price-fixing scandal and sentenced a Qantas executive to eight months in jail.
Qantas Chief Executive Geoff Dixon said in a statement Tuesday the agreement with the Australian Competition and Consumer Commission to pay the AU$20 million ($12 million) fine would settle the airline's liability in Australia once it was accepted by the Australian Federal Court.
Dixon said other similar investigations by antitrust regulators in Europe are expected to take two years to complete.
The commission said in a statement it expected to soon resolve its investigations into other airlines operating in Australia over price-fixing between 2002 and 2006.


Updated : 2021-04-23 14:44 GMT+08:00