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Last Updated: Tuesday, 12 September 2006, 01:49 GMT 02:49 UK
Lufthansa settles price fix claim
German airline Lufthansa has agreed to pay $85m (45.6m; 67m euros) to settle legal action in the US surrounding allegations of price fixing.

The firm added the deal, which is subject to court approval, will end pending class action lawsuits.

Lufthansa was one of a number of airlines investigated by the US and European Union amid claims of price fixing in the cargo haulage industry.

It added it had also won conditional immunity in the US and from the EU.

Despite the payout, Lufthansa said it still expected full year operating profits to come in at 577m euros, unchanged from last year's levels.

Pricing probe

In February, more than a dozen airlines were drawn into an investigation into suspected collusion in the air cargo industry to fix prices on surcharges for fuel, security and insurance.

Officials from the US and European Union declined to provide details about the case.

However American Airlines, United Airlines have admitted they were contacted as part of the investigation.

Scandinavia's SAS airline also revealed it had been raided by the European Commission.

AirFrance KLM, British Airways and Cargolux also confirmed they had been questioned.


SEE ALSO
Airline Lufthansa's losses triple
10 May 06 |  Business
Lufthansa raises profit forecast
19 Jan 06 |  Business
Swiss backs Lufthansa takeover
22 Mar 05 |  Business
Decision on Lufthansa offer looms
18 Mar 05 |  Business
Lufthansa flies back to profit
01 Mar 05 |  Business
Lufthansa reaches wages agreement
08 Dec 04 |  Business

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