SAS Cargo admits guilt in US price-fixing case
TT/David Landes - [email protected]
Published: 26 Jun, 2008 CET.
Updated: Thu 26 Jun 2008 17:50 CET
The cargo subsidiary of SAS, SAS Cargo, along with several other airline companies, has admitted to forming a price-fixing cartel in violation of US competition law, according to the US Department of Justice.
“Infringement of competition rules is and has always been entirely unacceptable and I condemn it unreservedly,” said SAS Group CEO and President Mats Jansson in a statement.
The company must now pay a $52 million fine as a penalty for having fixed prices in the air cargo business along with Air France, KLM, and Cathay Pacific Airways.
“The price-fixing conspiracy acknowledged here today undermines our economy and harms the American people who, due to the lack of true competition in this area, end up footing the bill,” said Associate US Attorney General Kevin O'Connor in a statement.
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“Infringement of competition rules is and has always been entirely unacceptable and I condemn it unreservedly,” said SAS Group CEO and President Mats Jansson in a statement.
The company must now pay a $52 million fine as a penalty for having fixed prices in the air cargo business along with Air France, KLM, and Cathay Pacific Airways.
“The price-fixing conspiracy acknowledged here today undermines our economy and harms the American people who, due to the lack of true competition in this area, end up footing the bill,” said Associate US Attorney General Kevin O'Connor in a statement.
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