Australia Fines Korean Air $5.5M For Cargo Cartel

Law360, New York (November 17, 2011, 10:03 PM EST) -- An Australian court on Thursday fined Korean Air Lines Co. Ltd. AU$5.5 million ($5.5 million) for its role in an air cargo cartel, making it the eighth airline penalized by Australia in the probe.

The Federal Court in Sydney issued the fine after the airline admitted to making illegal price-fixing understandings with other international airlines, the Australian Competition and Consumer Commission said.

The court also ordered Korean Air to pay AU$200,000 towards the ACCC's costs and enjoined the airline from engaging in price-fixing for five years....
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