Qantas airmail costs $70m

Qantas formally pleaded guilty to a charge of conspiring to restrain trade in a US court, copping a $US61 million (almost $A70 million) fine for its plea. The court gave the airline 15 days to pay up.

The US Department of Justice charged Qantas with fixing international air cargo rates between the USA and Australia for six years between January 2000 and February 2006. Qantas is said to have made more than $600 million from collusion.
 
“The shipment of consumer products by air transportation is critical to our global economy,” said the department’s antitrust spokesman, assistant Attorney-General Thomas O Barnett. “Our investigation into this important industry will continue, and we will aggressively pursue those who engage in criminal conduct that harms American consumers.”
 
The airline is also helping the department with inquiries into another 30 airlines under investigation. British Airways and Korean Air Lines have already been fined $300 million each.