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EU re-issues 776 mln euro fine for air cargo cartel

Reuters - UK Focus

BRUSSELS, March 17 (Reuters) - The European Commission said on Friday that it had re-adopted its decision to fine 11 airlines for their part in a cartel to fix air cargo prices after an EU court had annulled its initial finding due to a procedural error.

The total fine comes to 776 million euros ($835.5 million), with all of the fines at the same level except for the amount due from Martinair - cut to 15.4 million euros from the 29.5 million euro amount set in 2010. ($1 = 0.9288 euros) (Reporting By Philip Blenkinsop; editing by Robert-Jan Bartunek)