Brazil Hits 2 Freight Airlines With $35M In Bid-Rigging Fines

Law360, New York (February 20, 2014, 6:11 PM EST) -- A pair of Brazilian freight airlines were fined a combined 83 million reais ($35 million) on Wednesday for running a cartel that intentionally hampered competition and helped drive up bid prices for the country's state-owned postal service, its chief antitrust regulator said Thursday.

In a press release, the Tribunal of the Administrative Council for Economic Defense, or CADE, said Skymaster Airlines Ltda. will be forced to pay more than 35 million reais while Brazilian Express Transportes Aereos Ltda., better known as Beta Cargo, will be fined...
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