Cargolux Airlines International on Feb. 10 agreed to pay approximately $3.3 million in penalties for breaching the price fixing provisions of the Australian Trade Practices Act.
The settlement between Cargolux and the Australian Competition and Consumer Commission is subject to federal court approval.
"Cargolux has cooperated intensively with the ACCC and the other authorities throughout the investigation and the legal proceedings and will continue to do so," said Marc Hoffmann, chairman of the board of Cargolux.
The settlement with the ACCC relates to allegations of fuel surcharge price fixing in league with other major carriers for international air cargo shipments.
Luxembourg-based Cargolux is Europe's largest all-cargo airline.