Cathay Pacific settles antitrust case in Canada

Cathay Pacific freighter being loaded

Cathay Pacific Airways yesterday said it would pay C$6 million ($4.48 million) to settle an antitrust case in Canada involving its cargo operations.

According to media reports in Hong Kong, the carrier made the announcement in a filing to the local stock exchange, and the settlement agreement is pending approval by the Canadian courts.

The filing reportedly also said that Cathay Pacific does not “admit any unlawful conduct, wrongdoing or liability in the settlement agreement”.

The filing reportedly added Cathay had made sufficient provisions in its accounts before 2015, so the settlement will not have any material effect on the airline’s future results.