SOURCE: All Nippon Airways
Announcement of Agreement with U.S. Department of Justice Regarding International Air Cargo and Passenger Transportation, Resolution of Class Action Lawsuit Regarding International Air Cargo and the Posting of Extraordinary Loss
TOKYO–(Marketwire – October 29, 2010) –
Company name: All Nippon Airways, Co., Ltd
Representative Name: Shinichiro Ito, President & CEO
(Code: TSE & OSE 1st Section 9202)
All Nippon Airways Co., Ltd. (
Further, we have agreed as of October 29th, 2010, to a settlement in connection with the claims that had been raised by freight forwarders and other plaintiffs for price coordination and other items as follows.
1. Development from the commencement of the lawsuit to the settlement
Since February 2006, we have been fully cooperating with the investigation by the U.S. Department of Justice (“DOJ”) of, among other things, price coordination for international air cargo and passenger transportation. Recently, as a result of a comprehensive review of various factors, we have decided to agree to a plea agreement with the DOJ.
Further, a class action lawsuit brought by freight forwarders and other plaintiffs involved in international air cargo was pending against airlines including ANA. Recently, as a result of negotiations with the plaintiffs, we have decided to agree to a settlement.
2. Settlement details
1) Plea agreement with the United States (DOJ)
Settlement amount: 73 million U.S. dollars (Approximately 6.1 billion yen*)
- The plea agreement will be finalized later upon approval of the written plea agreement by a U.S. court.
2) Settlement with the class of freight forwarders and other plaintiffs involved in international air cargo
Settlement amount: 10.4 million U.S. dollars (Approximately 800 million yen*)
- The settlement is expected to be finalized later upon approval of the written settlement agreement by a U.S. court.
*Exchange rate: 83.82 yen to 1 U.S. dollar
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Director, General Administration