Northwest to pay $38M for price fixing
Posted on July 30th, 2010
WASHINGTON, July 30 (UPI) — U.S. carrier Northwest Airlines has agreed to plead guilty to charges of price fixing and to pay a $38 million fine, the Department of Justice announced.
The price fixing involved prices for cargo service between the United States and Japan from July 2004 to February 2006, the department said Friday.
The case filed in federal court in Washington is part of an ongoing investigation that has included 16 airlines pleading guilty to price fixing, which has resulted in more than $1.6 billion in fines.
The plea is contingent on court approval. During the period in question, the airline’s cargo unit, Northwest Airlines Cargo, earned more than $80 million in cargo shipments to and from Japan, the department said in a statement.
Four airline executives have been imprisoned in the case that has included guilty pleas filed by British Airways, Korean Air Lines, Qantas Airways, Japan Airlines International, Cathay Pacific Airways and 10 others.
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Tags: Fixing, Price Fixing
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