Mark Szakonyi | Aug 19, 2011 12:42PM EDT
Saudia Arabian Airlines agreed to pay $14 million to settle a class action lawsuit accusing the airline of conspiring with other carriers to raise freight rates between 2000 and 2006.
If the U.S. District Court for Eastern District of New York approves the settlement, SAA will join nine other carriers that have reached settlements totaling $278.4 million, said Kaplan Fox and Kilsheimer, one of the four counsels representing direct purchases of air freight shipping services. Settlements for the 14 carriers accused of price-fixing total $454.4 million.
SAA, along with Malaysia Airlines and South African Airlines, have not pled guilty to violating U.S antitrust laws, unlike the majority of the airlines that have settled with freight purchasers. Litigation is still pending against 14 defendants.
-- Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @Szakonyi_JOC
