December 7, 2012 10:17 AM

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Oz court fines SA & Cathay Pacific for price fixing

In Australia, the Federal Court has ordered Cathay Pacific Airways and Singapore Airlines Cargo to pay 23 million dollars in fines for engaging in price fixing. The conduct included an attempt by Singapore Airlines Cargo to fix rates for meat exports going to US and Australian troops stationed in the Middle East. The Australian Competition and Consumer Commission took action against the two airlines as part of a broader cartel conduct case. The ACCC says the latest penalties bring the total amount of fines ordered against 12 airlines in the case to 91 million dollars. Chairman Rod Sims says the main cartel conduct by the two airlines involved colluding on an index to adjust fuel charges rather than letting them be set by the free market

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