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BA pays £55m over price-fixing

British Airways has agreed to pay £55 million to settle a class-action lawsuit alleging that it conspired with other airlines to fix prices for carrying cargo.

The settlement covers actions between 2000 and 2006. It still needs approval by a federal judge in New York.

The law firm that led the cases says the settlement is the 11th from airlines around the world, for a total of almost £280m.

The firm also says Lan Airlines SA, Lan Cargo, and Aerolinhas Brasileiras SA have agreed to pay £43m to settle.

The allegations also resulted in a massive criminal investigation.

So far, 21 airlines including British Airways have agreed to pay fines totalling more than £1.1bn. Nineteen executives have been charged with wrongdoing, and four have gone to prison.


From Belfast Telegraph