Ex-Qantas exec to serve 8 months for price fixing

WASHINGTON, May 8 (Reuters) - A former Qantas (QAN.AX: Quote, Profile, Research) vice president will serve eight months in prison for conspiring to fix prices for shipping air cargo, the Justice Department said on Thursday.

Bruce McCaffrey, formerly a Qantas vice president for freight for the Americas, agreed to plead guilty to price fixing in international air cargo, serve prison time and pay a $20,000 fine, the department said in a statement.

The plea agreement must be approved by the court. (Reporting by Diane Bartz, editing by Gerald E. McCormick)