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South Korea: Asiana Airlines coughs up $55M for price-fixing

 |  October 15, 2014

South Korea-based airliner Asiana has reportedly agreed to pay $55 million to settle a price-fixing class action.

The company was sued in the US on claims that the airline colluded with rivals to fix rates for cargo air shipping, according to court documents filed Tuesday. The settlement will require clearance from a judge.

The plaintiffs are made up of mostly companies that manage air cargo delivery, say reports; they claim that the airlines drove up costs because of the alleged conspiracy.

Asiana is the 22nd company to settle allegations after the case began in 2006. A total of $903 million in settlement deals has been reached so far.

Six airlines have yet to settle, however. Those include Air China, Air India, Air New Zealand, Atlas Air Worldwide, Eva Airways and Nippon Cargo.

Full content: Reuters

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