HONG KONG—Cathay Pacific Airways Ltd. Wednesday said it would pay $65 million to settle an antitrust class-action case in the U.S. involving its air-cargo operations.
The Hong Kong-based carrier said in a statement that it didn't admit to any wrongdoing or liability in the civil settlement, which is subject to approval by the U.S.'s District Court for the Eastern District of New York.
The settlement won't have a material impact on its financial results to be released in March, as it had made sufficient provisions in its accounts before 2013, the carrier said.
The settlement came after Cathay Pacific was fined $60 million in 2008 for collusion in air-cargo prices with other airlines in a criminal antitrust case in the U.S.
Cathay Pacific said it is committed to compliance and has taken corrective action to remain consistent with that policy.
Source: Wall Street Journal by Joanne Chiu
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