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Australia's Qantas Airways agreed on Tuesday to pay a A$20 million ($12.2 million) fine for its part in a price fixing case and vowed to help regulators as they probed 30 other airlines over the same issue. Qantas said the fine was part of a settlement with Australia's competition regulator.
The agreement still needs approval from Australia's Federal Court, where the local regulator is suing both Qantas and British Airways for alleged price fixing on air freight between 2002 and early 2006. The Australian Competition and Consumer Commission (ACCC) said separately on Tuesday that British Airways had also agreed to pay a fine, though it did not disclose the sum.
"Qantas is one of the first airlines to settle its liability in Australia," Qantas Chief Executive Geoff Dixon said in a statement, offering an unreserved apology. "Since being advised of the allegations in May 2006, Qantas has co-operated fully with investigations by the ACCC and all other relevant antitrust rational air cargo market.

Copyright Reuters, 2008

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