DB Schenker clinches deal with British Airways
In 2010, the European Commission – along with other competition authorities globally – fined eleven airlines almost EUR 800 million as a result of the illegal coordination of fuel and security surcharges.
Now, Deutsche Bahn has reached an out-of-court settlement with British Airways in relation to damages claims arising from the air freight cartel. Both parties have agreed that the details of the settlement agreement, including the settlement amount, remain confidential.
The settlement marks the seventh out-of-court settlement that DB Barnsdale, a subsidiary of DB, has reached as part of this legal process. As a result, about 75% of the damages originally claimed have now been settled out of court through commercially sensible deals.
There remain four defendants in the legal process: Cargolux, Cathay Pacific, LAN Chile/LATAM and Japan Airlines. (ah)