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Airline Emirates has admitted it illegally engaged in price-fixing in a global air-freight cartel and has been fined $10 million by Australia's Federal Court.
Emirates settled and admitted to the three-year-old charges brought by the competition regulator, the Australian Competition and Consumer Commission (ACCC).
The airline has admitted to illegally fixing fuel prices, a fuel and security surcharge and customs fees relating to air freight between Indonesia and Australia and other countries between October, 2001 and May, 2006.
It was fined $7 million for that price-fixing and $3 million for trying to fix prices with airline DAS Air Cargo over the supply of air freight services from Australia.
Federal Court judge Anna Katzmann ordered Emirates to restrain from engaging in similar conduct for five years and to pay $500,000 towards the ACCC's costs.
The conduct was found by the court to be a breach of the Competition and Consumer Act.
Emirates is the 10th airline to settle and admit to the price-fixing, with Qantas fined $20 million in Australia and $105 million worldwide in relation to the illegal freight charges.
The ACCC is bringing cartel charges in court next week against other airlines that are defending the charges, including Singapore Airlines, Cathay Pacific, Air New Zealand, Thai Airways International and Garuda Indonesia.
The total penalties ordered in Australia against international airlines involved the 16-year-old cartel is $68 million.
These were the highest penalties yet ordered in an ACCC investigation, ACCC chairman Rod Sims said.
'This result sends a strong message that the ACCC and the Australian courts will not tolerate any business, regardless of size or country of origin, engaging in cartel conduct that harms competition in Australia,' he said in a statement.
'Cartel conduct is illegal and often results in increased prices for consumers.'