Polar Air Cargo fined $17.4m for pricefixing
05 / 09 / 2010
POLAR Air Cargo has pleaded guilty and agreed to pay a US$17.4 million fine for conspiring to fix airfreight charges.
Polar Air Cargo and its accomplices fixed prices between the US and Australia between 1 January, 2000 and 30 April 2003. Its accomplices continued with the conspiracy until 14 February 2006.
Atlas was at pains to distance itself from the fine and repeatedly stressed how the activities occurred before it bought Polar.
Atlas’s chief executive officer, William Flynn, was also keen to point out that none of Atlas’s current management board were implicated in the investigation.