“Pending its approval by the US court, the accord, in exchange for payment of US$87 million (€69 million), ends all civil action against the three companies… concerning the US air cargo market between 2000 and 2006,†they said in a statement.
The three companies now operate as one under the Air France-KLM group, following their merger in 2004.
The civil class action suits were filed in 2006 after the US and EU authorities launched a probe into price rigging of the US cargo market. Four major airlines, including Air France-KLM and Cathay Pacific Airways, had to pay US fines worth US$504 million when they were found guilty in 2008 of conspiring to fix air cargo prices.
Air France-KLM paid the largest amount, US$350 million, to settle this criminal case, leaving the civil plaintiffs in the US to pursue their claims. US Justice Department officials said at the time the airlines plotted to “suppress and eliminate†competition by fixing cargo freight rates charged to customers for international air shipments.