Provided by NZX
  • AIR2.18

    $0.062.75%

  • Open 2.24 High 2.235 Low 2.17 Bid Price 2.175

    Offer Price 2.18 Value 1963189.09 Volume 890447

Current as of 24/11/14 03:40PM NZST

Grant Bradley

Aviation, tourism and energy writer for the Business Herald

Air NZ awarded $3.2m settlement

Air NZ is not making any payment as part of that settlement, the airline said.
Air NZ is not making any payment as part of that settlement, the airline said.

Air New Zealand has been awarded $3.2 million towards its legal costs by the Federal Court in Australia as part of the settlement of a class action over the air cargo market.

Air New Zealand is not making any payment as part of that settlement, the airline said. The class action alleging anti-competitive conduct by many airlines setting cargo rates and surcharges was started by the plaintiffs' lawyers, Maurice Blackburn, in 2007, claiming damages of up to A$200 million ($219.8 million).

"Air New Zealand has consistently denied any such conduct and was one of two airlines to defend related proceedings brought by the Australian Competition and Consumer Commission. A decision of the Federal Court is awaited," the airline said.

Last year the airline settled with the Commerce Commission in this country in a long-running air cargo cartel case, paying a $7.5 million fine.

Air New Zealand said yesterday it was cleared of involvement by the European Commission in 2010 and by the USA Department of Justice in 2011.

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on production apcf02 at 24 Nov 2014 15:44:07 Processing Time: 429ms