Newspaper article The Canadian Press

European Court Annuls Price-Fixing Case against Air Canada, Other Carriers

Newspaper article The Canadian Press

European Court Annuls Price-Fixing Case against Air Canada, Other Carriers

Article excerpt

Air Canada wins price-fixing case in Europe

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MONTREAL - A European Court has overturned a ruling against Air Canada and several other carriers that were fined about US$1.1 billion several years ago for allegedly fixing prices on international cargo shipments.

The General Court of the European Union issued its decision Wednesday to annul a November 2010 ruling by the European Commission.

Eleven carriers were fined for infringing European competition law by co-ordinating to set cargo fuel and security surcharges between 1999 and 2006.

Air Canada (TSX:AC), which was initially fined 21 million euros or about US$20 million, welcomed the ruling.

"We have always maintained that the decision was ill-founded and the General Court's ruling confirms Air Canada's position," spokeswoman Isabelle Arthur wrote in an email. …

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