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US: Polar Air Cargo agrees $100m settlement in antitrust lawsuit

By  |  January 10, 2016

Polar Air Cargo will pay $100m in three installments over three years in the latest settlement agreed under a US antitrust class action lawsuit.

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    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

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