3 Airlines Agree To Pay $124.7M In Criminal Fines

Law360, New York (January 22, 2009, 12:00 AM EST) -- LAN Cargo SA, Aerolinhas Brasileiras SA and El Al Israel Airlines Ltd. have agreed to plead guilty and pay more than $124.7 million in criminal fines as a result of their alleged involvement in a global conspiracy to fix air cargo prices.

The three airlines agreed to plead guilty following criminal filings by the U.S. Department of Justice in the U.S. District Court for the District of Columbia on Thursday.

Chilean-based LAN Cargo and Aerolinhas Brasileiras, a Brazilian company that is substantially owned by LAN Cargo,...
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