Australia's airline Qantas settles New Zealand freight price fixing case

Australia's Qantas Airways Ltd said on Friday it had reached a settlement with the New Zealand Commerce Commission in relation to price fixing conduct within its freight division between 2000 and 2006.

"The terms of the settlement are confidential, but include agreement to recommend to the New Zealand High Court that Qantas pays a fine of 6.5 million NZ dollars (4.72 million U.S. dollars), " Qantas said in a statement on Friday.

The fine recommendation reflects a 50 percent discount for Qantas's cooperation with the NZ Commerce Commission in its investigations of the cartel.

The airline said it would plead guilty to participating in a cartel with other international airlines, including Air New Zealand at a penalty hearing set for April 11.

Qantas said it would continue to cooperate fully with the commissions in its prosecution of other airlines.

It has previously resolved liabilities with other regulators around the world relating to the price fixing actions.

Source: Xinhua
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