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.

Cost of doing business
 

You can bet they made a lot more than US$12.28M in the course of these "certain violations"

What a Fine situation to be in.

Just a (small) cost of doing business

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!:ok:

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

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.

From today's Australian (playing the sympathy and loyalty card):

Cathay Pacific and Singapore Airlines fined over price fixing attempts

• by: Steve Creedy, aviation writer
• From: The Australian
• December 07, 2012 10:26AM

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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.

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?

The same ones that define "random chaos"!!!