Airlines Agree To Pay $504M In Price-Fixing Probe

Law360, New York (June 26, 2008, 12:00 AM EDT) -- Five airlines will plead guilty and pay $504 million in fines as part of the U.S. Department of Justice's ongoing air-cargo price-fixing investigation, federal investigators said Thursday.

Under the agreement, Air France-KLM — formerly Societe Air France and Koninklijke Luchtvaart Maatschappij NV — will pay $350 million, which is the second-highest fine ever in a criminal antitrust case. That fine breaks down to $210 million to Societe Air France and $140 to KLM Royal Dutch Airlines.

If the agreement is approved, Cathay Pacific Airways Limited will...
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