the freight forwarders. Moreover, the level of the fines disregards the economic hardship that the air cargo
industry has suffered, and will have a distortive effect on the level playing field," the company said in a
statement.
Air France-KLM noted that its fines exceed the level of provisions it has already taken against anti-trust
litigation, obliging it to book an unexpected 127 million charge to its earnings for the first six months of
its financial year that ends March 31, 2011. Air France-KLM will release its first-half results on Nov. 17.
SAS, which didn't make any provision, said Tuesday that it will appeal the commission's decision, calling
the fines disproportionate, while Cargolux said the fines seems "a very harsh punishment indeed," when
added to others due to other antitrust authorities.
David Pearson contributed to this article.
http://www.wsj.com/articles/SB10001424052748704635704575604512901907010