• Most Popular
  • Most Shared

RPT-UPDATE 1-Air NZ says contacted in EU cargo investigation

Wed Dec 26, 2007 11:24pm EST

Stocks

   

(Repeats to additional subscribers)

SYDNEY, Dec 27 (Reuters) - Air New Zealand (AIR.NZ) said on Thursday it is one of 25 airlines that have been contacted by the European Union following an investigation into alleged agreements among airlines over air cargo rates and surcharges.

The carrier said it had received a statement of objections, which set out issues the airlines were required to respond to by March 3.

"Air New Zealand will not be making any further comment until the statement has been considered by the company's lawyers," it said in a statement.

Shares in the national carrier, which is almost 80 percent owned by the New Zealand government, last traded down 1.5 percent at NZ$1.95.

European, American and Asian airlines have all been targeted including British Airways (BAY.L), Lufthansa (LHAG.DE), Cathay Pacific (0293.HK), Singapore Airlines (SIAL.SI) and Air Canada (ACa.TO).

Air Canada said the statement from the European Commission, the European Union's competition watchdog, had alleged levying of certain fuel charges by a number of cargo operators and airlines that were in breach of EC antitrust laws. (Additional reporting by Richard Pullin) (Reporting by Adrian Bathgate)



More from Reuters

Photo

Fox, Time Warner Cable ink temp deal to avoid blackout

NEW YORK (Reuters) - Time Warner Cable and News Corp's Fox Networks agreed to a brief extension of their current carriage contract on Thursday to avoid a blackout that would have prevented 13 million U.S. homes from seeing TV shows like "The Simpsons" and college and NFL football games.

A customer is served at a counter inside a foreign exchange store displaying a poster of various banknotes including the Chinese yuan or renminbi (RMB) in Hong Kong November 20, 2009. REUTERS/Bobby Yip
OUTLOOK 2010:

Be careful what you wish for

Pressure on China to loosen its grip on the yuan will continue but the U.S. should tread carefully. Here are five world market issues to watch.  Full Article 

Clients work out on machines at the Bally Total Fitness facility in Arvada, Colorado June 15, 2009.  REUTERS/Rick Wilking

Get real with resolutions

We make them and we break them: The secret to keeping them is to avoid the impossible dream.  Full Article