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EU: Court annuls €790m air freight cartel fines

By  |  December 21, 2015
EU: Court annuls €790m air freight cartel fines

Cargolux and 10 other air carriers won their appeal in Kirchberg against the European Commission. The decision to fine the carriers followed an investigation by the Commission into alleged air cargo collusion after a whistleblower move by Lufthansa Cargo and Swiss International Airlines in 2005.

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    Of the companies, Air France was fined the most important quantity – €182.9m – whereas KLM was fined €127.2m.

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    The EU fines came three years after regulators sent complaints to 26 airlines, after coordinated antitrust raids worldwide that led to jail terms for some executives, fines and settlements.

    “These fines have been fully covered in the financial accounts since 2010”, Air France-KLM said in a statement. Judges agreed with their arguments, annulling the European Union competition enforcer’s decision.

    Full content: The Oceanside Post

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