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CLASS ACTION TO BE SERVED ON QANTAS, OTHER AIRLINES.
MELBOURNE, Feb 1 Asia Pulse - A $A200 million ($US155.07 million) cartel class action will be served on Qantas (ASX:QAN) and six other large international airlines today.
The case is being brought by leading law firm Maurice Blackburn Cashman and arises from an alleged global price fixing cartel in the international freight industry which is said to have started in 2000 until now.
The airlines named in the action also include Lufthansa, Singapore Airlines, Cathay Pacific, Air New Zealand, JAL and British Airways.
The case involves various surcharges the airlines imposed over that time.
These include fuel surcharges attributed to higher fuel costs, security charges attributed to extra security measures after the September 11 attacks and war-risk surcharges attributed to higher insurance costs linked to the Iraq war.
Maurice Blackburn Cashman principal Kim Parker said price fixing and market rigging by powerful organisations were the worst kinds of anti-competitive abuse.
Ms Parker said it was important victims of that behaviour had the chance to recoup their losses.
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Source: HighBeam Research, CLASS ACTION TO BE SERVED ON QANTAS, OTHER AIRLINES.