Polar Air Cargo will pay $100m in three installments over three years in the latest settlement agreed under a US antitrust class action lawsuit.
Action was brought against multiple carriers by purchasers of air cargo services who alleged collusion on pricing on routes to and from the US in the period 2000-06.
Polar Air Cargo, Polar Air Cargo Worldwide and Atlas Air Worldwide Holdings together entered into a settlement agreement with the litigants.
Polar provides scheduled freighter services for AAWW, its majority owner. The companies deny any wrongdoing or liability.
The settlement is the second-largest of 25 reached by law firm Hausfeld in the case. Total settlements now exceed $1.1bn. The case continues against three remaining defendants: Air China, Air India, and Air New Zealand.
Full content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Colorado Senate Rejects Bill Barring Rent-Setting Algorithms
May 2, 2024 by
CPI
Bayer Faces US Antitrust Suit Over Pet Meds Competition
May 2, 2024 by
CPI
Landmark Monopoly Trial Between DOJ and Google Wraps Up
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI