14 Jun 2011

Companies fined $5.2 million over air cargo fees

10:24 pm on 14 June 2011

Three international freight forwarding companies have been fined more than $5 million for colluding to set air cargo fees to and from New Zealand.

The High Court has ordered BAX Global, Schenker and Panalpina World Transport to pay $5.2 million after settling with the Commerce Commission.

The New Zealand regulator had already settled with EGL and Geologistics International, bringing the total penalties to $8.9 million.

The case continues against another global freight forwarder, Kuehne and Nagel.

The Commerce Commission says it started its investigation three years ago, after one of the firms involved came forward with information in return for leniency.

In 2006, freight forwarding services generated revenue of about $450 million.