Eva Airways to pay $13.2 mln fine for price fixing

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WASHINGTON | Fri May 27, 2011 11:48am EDT

WASHINGTON (Reuters) - Eva Airways Corp (2618.TW) has agreed to plead guilty to being part of a broad conspiracy to fix the price of air cargo shipping and will pay a $13.2 million fine, the U.S. Justice Department said on Friday.

The company pleaded guilty to conspiring to fix the prices of international air cargo from 2003 to early 2006, and will cooperate with the department's probe.

The plea bargain is the latest in a long-running price-fixing probe that has ensnared 22 airlines. Twenty-one executives have been charged.

The European Commission in Brussels has a related air cargo investigation.

Airlines caught up in the probe include British Airways (ICAG.L), Korean Air Lines (003490.KS), Qantas Airways (QAN.AX), Cathay Pacific Airways (0293.HK), El Al Israel Airlines Ltd (ELAL.TA) and Singapore Airlines Ltd (SIAL.SI).

(Reporting by Diane Bartz; Editing by Lisa Von Ahn)

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