SAS Cargo pays $14m to settle price fixing charge

SAS Cargo has agreed to pay a US$13.9 million settlement for its part in fixing cargo prices.

The airline also agreed to pay $500,000 in legal costs.

The settlement was part of the larger case brought in 2006 in both the US and the EU by a group of direct purchasers of air cargo space from over two dozen airlines for fixing cargo prices from and within the US.

This latest fine brings the total won to over $2 billion.

In a statement, SAS said the settlement would have an adverse effect on the SAS Group’s liquidity and earnings.