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Polar Air Cargo Inks Agreement With U.S. DoJ Regarding Past Pricing Practices On Commercial Cargo Services To Australia - Quick Facts
September 3, 2010, Friday, 02:43 GMT | 21:43 EST | 07:13 IST | 09:43 SGT
(RTTNews) - Polar Air Cargo LLC, a unit of Atlas Air Worldwide Holdings Inc. (AAWW) said it has reached an agreement with the U.S. Department of Justice Antitrust Division to resolve a previously disclosed investigation of alleged manipulation by cargo carriers of fuel surcharges and other rate components for air cargo services. The amount of the fine is $17.4 million, payable in installments over five years. The agreement is related to shipments from the United States to Australia during the period from January 2000 to April 2003, covering conduct by former employees of Polar LLC.
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