June 27, 2018 / 1:21 AM / 5 months ago

Australia's Federal Court fines Air New Zealand on cartel charges

June 27 (Reuters) - Australia’s competition watchdog said the country’s Federal Court has ordered Air New Zealand Ltd to pay A$15 million ($11.08 million) in penalties after legal action by the ACCC against a global air cargo cartel.

The Australian Competition & Consumer Commission (ACCC) said the court found Air NZ fixed fuel prices and insurance surcharges on air freight services from Hong Kong, and insurance and security charges from Singapore between 2002 and 2007.

Additionally, Air NZ agreed to pay A$2 million towards the ACCC’s legal costs, the watchdog said. ($1 = 1.3535 Australian dollars) (Reporting by Aaron Saldanha in Bengaluru; Editing by Muralikumar Anantharaman)

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