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British Airways has agreed to pay $89.5 million to settle a class-action lawsuit charging that it had conspired with other airlines to fix prices for hauling cargo.

Two Chilean carriers ” Lan Airlines and Lan Cargo ” and Aerolinhas Brasileiras of Brazil also agreed to pay $66 million to settle similar accusations. Other settlements were reached with Lufthansa for $85 million and Air France-KLM for $87 million.

In November, the European Union fined 11 airlines ” including British Airways ” a total of $1.1 billion for fixing prices on international cargo, leading to higher prices for businesses to move their goods. The European Commission, the European Union’s competition watchdog, said “‘the carriers coordinated their action on surcharges for fuel and security without discounts’” from December 1999 to February 2006.

source: The New York Times

Filed under British Airways, Traditional airlines.