Air NZ agrees to settle cartel case, expects earnings at upper end of guidance

Thu, 06 Jun 2013

By Tina Morrison June 7 (BusinessDesk) – Air New Zealand, the national carrier, agreed to pay $7.5 million to settle a long-running dispute with the antitrust regulator on alleged agreements with other airlines on fuel and security surcharges on air cargo. The Auckland-based airline is the last of 11 carriers to settle with the Commerce Commission on the air cargo cartel case, and faces the biggest penalty among the carriers if the High Court agrees with the settlement. The deal takes total penalties to more than $42 million, with Air NZ, Qa...

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