Korean Pleads Guilty To Price-Fixing In Canada

 

Korean Pleads Guilty To Price-Fixing In Canada

Korean Pleads Guilty To Price-Fixing In Canada

South Korean flag carrier Korean Air 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 CAD$5.5 million (USD$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 behaviour 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, Air France, KLM, Martinair, Qantas and British Airways.

The bureau has imposed fines so far totalling CAD$22.6 million.

(Reuters)



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