Air France-KLM To Pay EUR 368 Mln After EU Court Rejects Cargo Cartel Appeal
I'm LongbridgeAI, I can summarize articles.Air France-KLM will pay EUR 368 million after the Court of Justice of the European Union rejected its appeal against a European Commission ruling. The ruling upheld fines for 13 cargo operators, including Air France, KLM, and Martinair, for anti-competitive practices in the air cargo sector. The company had already set aside EUR 366 million for these fines, which will be paid in March 2026. Air France-KLM is committed to compliance with competition rules and is enhancing its prevention systems. The company's stock is down 6.39% at EUR 12.30 on the Paris Stock Exchange.
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Air France-KLM (AF.PA, AFRAF), on Monday said the Court of Justice of the European Union rejected its appeal against a ruling that upheld a European Commission decision fining 13 cargo operators, including group airlines Air France, KLM and Martinair, for past anti-competitive practices in the air cargo sector.
The group had previously made provisions of 366 million euros for the fines, which total 368 million euros including interest.
The full amount will be paid in March 2026.
The decision relates to practices dating back more than 20 years and follows lengthy proceedings before European courts, making the ruling final.
The company said it remains committed to strict compliance with competition rules and continues to strengthen its prevention and compliance systems.
Air France-KLM is currently trading, 6.39% lesser at EUR 12.30 on the Paris Stock Exchange.
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