Northwest Airlines is to plead guilty and pay a $38m (£24m) fine for its role in fixing air-cargo prices, the US Department of Justice has said. The department said as part of a plea deal Northwest would co-operate with an ongoing anti-trust investigation. Northwest Airlines Cargo, which is no longer operating, conspired to fix air-cargo rates from July 2004 to February 2006, the department added. Northwest was taken over by Delta Air Lines in a £1.7bn deal in October 2008. Northwest has agreed to plead guilty to a single offence, said the DoJ. So far a total of 16 airlines have pleaded guilty or agreed to do so in an ongoing investigation into price-fixing in air cargo, it added.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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