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Japan: Nippon Cargo settles antitrust suit, agrees to Korea fine

By  |  October 20, 2014

Japan’s Nippon cargo Airlines has reportedly settled litigation accusing the company of fixing global shipping prices, say reports, and has additionally accepted fines from the Korea Fair Trade Commission in a separate matter.

Reports say Nippon’s settlement is awaiting clearance in a New York court after offering $45 million to end litigation. The lawsuit accused various other shipping airliners, including Air China, Air India and Air New Zealand, of manipulating prices after authorities in several jurisdictions around the world opened investigations into the alleged air freight cartel.

One of those jurisdictions was South Korea, in which the KFTC found Nippon to have conspired to manipulate prices. Reports say Nippon has similarly settled litigation with the KFTC, though it is unclear how much that settlement was reached for.

Full content: CH Aviation

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