July 19, 2012 / 4:00 PM / in 7 years

Korea Air pleads guilty to price-fixing in Canada

OTTAWA (Reuters) - South Korean flag carrier Korean Air (003490.KS) has pleaded guilty to involvement in an air cargo price-fixing cartel on certain routes from Canada between April 2002 and February 2006, Canada’s competition watchdog said on Thursday.

The Competition Bureau imposed a C$5.5 million ($5.46 million) fine on the airline, the seventh to be convicted in the scheme, which the bureau continues to investigate.

“The bureau is committed to pursuing those who engage in anti-competitive behavior that harms Canadian businesses and consumers,” Melanie Aitken, the commissioner of competition, said in a statement.

The six other convictions occurred in 2009 and 2010 and include Cargolux CLUX.UL, Air France (AIRF.PA), KLM, Martinair MART.UL, Qantas (QAN.AX) and British Air (ICAG.L).

The bureau has imposed fines so far totaling C$22.6 million.

($1=$1.01 Canadian)

Reporting By Louise Egan; Editing by Peter Galloway

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below