Air New Zealand and Air India are the only carriers left defending a multi-billion dollar civil lawsuit in New York, where 26 airlines have cut settlement deals totalling $US1.19 billion.
The class action's hearing was to have started in January but several more settlements were reached, leaving just the New Zealand and Indian airlines defending the suit, hearings for which will begin on September 19. Judge Brian Cogan set a new pretrial conference in August and the new trial date in a February 19 judgment.
The claim was filed in 2006 on behalf of six freight forwarders and has been led by global litigation firm Hausfeld. Australia's Qantas Airways is among airlines to have settled, paying $US26.5 million, while Korean Air made the biggest settlement at $US115 million. The plaintiffs estimate damages at about $US2.66 billion, which would triple to as much as $US7.98 billion under US antitrust laws.
"Following additional settlements, at this time only Air New Zealand and Air India remain and face joint and several liability for the billions of dollars in damages (trebled) caused by the airlines' price-fixing cartel," Hausfeld attorney Brent Landau said in an emailed comment.
Asiana Airlines, Nippon Cargo Airlines and EVA Airways Corp were the latest to settle for $US55 million, $US36.4 million and $US99 million respectively.
The freight forwarders say the airlines "conspired to develop and implement an industry-wide index for calculating fuel and security surcharges that were applied to thousands of routes flown worldwide by the defendants, including flights to and from the United States" and were able to adjust those rates 28 times between January 1, 2000 and September 30, 2006, according to a report and recommendations by US Magistrate Judge Viktor Pohorelsky in the US District Court in October 2014.
03/03/16 Paul McBeth/NBR
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The class action's hearing was to have started in January but several more settlements were reached, leaving just the New Zealand and Indian airlines defending the suit, hearings for which will begin on September 19. Judge Brian Cogan set a new pretrial conference in August and the new trial date in a February 19 judgment.
The claim was filed in 2006 on behalf of six freight forwarders and has been led by global litigation firm Hausfeld. Australia's Qantas Airways is among airlines to have settled, paying $US26.5 million, while Korean Air made the biggest settlement at $US115 million. The plaintiffs estimate damages at about $US2.66 billion, which would triple to as much as $US7.98 billion under US antitrust laws.
"Following additional settlements, at this time only Air New Zealand and Air India remain and face joint and several liability for the billions of dollars in damages (trebled) caused by the airlines' price-fixing cartel," Hausfeld attorney Brent Landau said in an emailed comment.
Asiana Airlines, Nippon Cargo Airlines and EVA Airways Corp were the latest to settle for $US55 million, $US36.4 million and $US99 million respectively.
The freight forwarders say the airlines "conspired to develop and implement an industry-wide index for calculating fuel and security surcharges that were applied to thousands of routes flown worldwide by the defendants, including flights to and from the United States" and were able to adjust those rates 28 times between January 1, 2000 and September 30, 2006, according to a report and recommendations by US Magistrate Judge Viktor Pohorelsky in the US District Court in October 2014.
03/03/16 Paul McBeth/NBR
