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Asia: Airlines earn millions in fines for New Zealand cartel

 |  April 22, 2013

More than $8 million in fines has been issued to three of Asia’s largest airlines for forming a cartel affecting cargo flown to New Zealand. The news, announced by New Zealand’s Commerce Commission, has fined Cathay Pacific Airways, Thai Airways International and Malaysian Airlines subsidiary MASkargo System Berhad. According to the Commission, the violations occurred between 2000 and 2006. The fines mark the eighth, ninth and tenth penalizations in an ongoing case investigating price-fixing in the industry. Proceedings were initiated against 13 airlines by the Commission for the violations in December 2008 after the regulator suspected the existence of a cartel fixing fuel prices in cargo shipments to and from New Zealand.

Full Content: XinhuaNet

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