Korean Air, Emirates Fined $4M In NZ Air Cargo Probe

Law360, New York (July 27, 2012, 6:26 PM EDT) -- A New Zealand court signed off Friday on settlements worth NZ$5 million (US$4 million) that Korean Air Lines Co. Ltd. and Emirates have reached with the country's competition watchdog over air cargo surcharge rate fixing.

Korean Air will pay NZ$3.5 million and Emirates will pay NZ$1.5M to resolve the Commerce Commission's price-fixing probes as part of the deals the high court approved.

"The commission is pleased to have settled with two more airlines in this significant case," said Commission Chair Mark Berry. "We have obtained admissions...
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