Air Canada settles cargo fine
08 / 02 / 2012
THE US is getting closer to collecting half a billion dollars in anti-trust cargo conspiracy fines and settlements, following an agreement with Air Canada and AC Cargo.
The Canadian carrier has coughed up US$7.5 million in the latest hearing at a court at the Eastern District of New York.
“The settlement with Air Canada is an excellent result for the US class, which has recovered nearly half a billion dollars in settlements from over twenty different air cargo carriers,” Michael Hausfeld, chairman of Hausfeld, co-lead counsel in the case, comments.
This is the seventeenth settlement in the case so far, bringing the total recovery to over $485 million, with eleven other airlines remaining as defendants in the litigation.
