CX fined by ACCC
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CX fined by ACCC
Cathay fined in price-fixing case
Cathay Pacific Airways will pay a US$12.28 million fine to settle an air cargo price-fixing case with the Australian Competition and Consumer Commission, the blue-chip carrier said, reported Dow Jones Newswires.
Australia's competition watchdog in 2009 commenced legal action against Hong Kong-based Cathay Pacific over allegations it participated in international air cargo price fixing between 2000 and 2006.
Cathay Pacific said in a statement that under the settlement approved by the Federal Court of Australia, New South Wales Registry, it has pleaded guilty to certain violations of the Australian Trade Practices Act.
Cathay Pacific remains committed to its long standing policy of full compliance with all applicable laws and is satisfied that it has taken the best possible corrective actions to remain consistent with this policy, it said.
Cathay Pacific Airways will pay a US$12.28 million fine to settle an air cargo price-fixing case with the Australian Competition and Consumer Commission, the blue-chip carrier said, reported Dow Jones Newswires.
Australia's competition watchdog in 2009 commenced legal action against Hong Kong-based Cathay Pacific over allegations it participated in international air cargo price fixing between 2000 and 2006.
Cathay Pacific said in a statement that under the settlement approved by the Federal Court of Australia, New South Wales Registry, it has pleaded guilty to certain violations of the Australian Trade Practices Act.
Cathay Pacific remains committed to its long standing policy of full compliance with all applicable laws and is satisfied that it has taken the best possible corrective actions to remain consistent with this policy, it said.
Where do these guys get their advice from (on all manner of issues)? We do our best and they blow $13 Mill whilst presumably awarding themselves a bonus and a pat on the back!! C'est Bon!
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From what I gather the CEO doesn't like bad press. So which one of these clowns upstairs has lost their job for bringing the company into disrepute?
Singapore Air fined for troop meat price fix
Singapore Air fined for troop meat price fix
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Lose their jobs?
The answer is nobody will lose their jobs. If I recall correctly, the guy in charge of cargo when CX was fined US$60 million was moved sideways in the Swire group. So no-one will go this time.
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From today's Australian (playing the sympathy and loyalty card):
Cathay Pacific and Singapore Airlines fined over price fixing attempts
CATHAY Pacific and Singapore Airlines have been hit with penalties totalling $23 million for being part of a freight cartel in which the Singaporean carrier attempted to fix prices for the cost of carrying meat from Australia to troops fighting in the Middle East.
Cathay Pacific and Singapore Airlines fined over price fixing attempts
- by: Steve Creedy, aviation writer
- From: The Australian
- December 07, 2012 10:26AM
CATHAY Pacific and Singapore Airlines have been hit with penalties totalling $23 million for being part of a freight cartel in which the Singaporean carrier attempted to fix prices for the cost of carrying meat from Australia to troops fighting in the Middle East.
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Conspicuous by its absence in the Friday telex but then banging on about the Cabin Crew, having shafted them on allowances. The hypocrisy beggars belief.
Also; can a greater mind than mine explain "targets" & "budgets"? What exactly are these mythical numbers?
Also; can a greater mind than mine explain "targets" & "budgets"? What exactly are these mythical numbers?
