Brazil Fines Airlines $125M Over Cargo Cartel

By Jonathan Randles (August 29, 2013, 4:13 PM EDT) -- Brazil's antitrust regulator on Wednesday fined four airlines, including bankrupt American Airlines Inc., 293 million Brazilian reals ($125 million) for fixing air cargo fuel prices in the country.

American, ABSA Aerolinhas Brasileiras SA, Varig Logistica SA and Alitalia Linee Aeree Italiane SpA, plus seven individuals, were penalized for cartel activity between 2003 and 2005, according to the Brazilian Administrative Council for Economic Defense, known as CADE.

The airlines exchanged information to coordinate and implement an air cargo fuel charge and colluded to set the final price for air freight services, CADE said. The fuel charge represented "a substantial part" of air...

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