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- Release Date: 06/06/14 16:30
- Summary: GENERAL: AIR: Air New Zealand recovers $3M costs
- Price Sensitive: No
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AIR
06/06/2014 16:30
GENERAL
REL: 1630 HRS Air New Zealand Limited (NS)
GENERAL: AIR: Air New Zealand recovers $3M costs
Air New Zealand has been awarded NZ$ 3.2m towards its legal costs by the
Federal Court in Australia as part of the settlement of the air cargo class
action. Air New Zealand is not making any payment as part of that settlement.
The class action alleging anti-competitive conduct by many airlines setting
cargo rates and surcharges was commenced by plaintiffs' lawyers Maurice
Blackburn in 2007, claiming damages of up to A$200m. Air New Zealand has
consistently denied any such conduct and was one of two airlines to defend
related proceedings brought by the ACCC. A decision of the Federal Court is
awaited in respect of those proceedings.
The air cargo industry has been the subject of a globally co-ordinated
investigation by competition regulators and civil action by class action
lawyers for over eight years. Air New Zealand was cleared of involvement by
the European Commission in 2010 and by the USA Department of Justice in 2011.
The company continues to defend a related class action claim in the United
States which, subject to the decision on the ACCC proceedings, is the only
remaining litigation arising from this matter.
Ends.
End CA:00251313 For:AIR Type:GENERAL Time:2014-06-06 16:30:47
