21 January 2019

Cathay paying US$65 mln to settle US anti-trust case, WSJ says

Cathay Pacific Airways Ltd. (00239.HK) will pay US$65 million to settle an anti-trust class action case in the United States involving its air-cargo operations, the Wall Street Journal reported Wednesday, citing a statement from the airline. The carrier said it did not admit to any wrongdoing or liability in the civil settlement, which is subject to approval by a US District Court in New York. The settlement will not have a material impact on its financial results to be released in March, according to the statement. Cathay Pacific was fined US$60 million in 2008 for collusion in air-cargo prices with other airlines in a criminal anti-trust case, the report said.

– Contact HKEJ at [email protected]




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