Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
German flag carrier Lufthansa and German national railway Deutsche Bahn have reached agreement on a long-festering dispute concerning an air cargo cartel.
The settlement was announced Aug. 26, although details are being kept confidential by mutual agreement.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The settlement ends a dispute before the Cologne regional court that has been ongoing since 2013.
Settling parties are DB Barnsdale, a wholly owned subsidiary of Deutsche Bahn, and Lufthansa Group member companies Lufthansa Cargo, Swiss International Air Lines and Deutsche Lufthansa.
In 2010, the European Commission and other antitrust authorities imposed fines totaling almost €800 million ($887 million) against 11 air cargo carriers: Air Canada, Air France-KLM, British Airways, Cathay Pacific, Cargolux, Japan Airlines, LAN Chile, Martinair, SAS, Singapore Airlines and Qantas.
The European Commission alleges that a price-fixing cartel in operation from late 1999 to early 2006 set the levels of fuel and security surcharges.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
That allegation spurred DB Barnsdale to pursue damage claims on behalf of DB Schenker, a division of Deutsche Bahn that focuses on logistics, as well as several freight forwarders and shippers that assigned their claims to the company.
In 2013, the company filed an action for damages in the Cologne court against the air cargo carriers involved in the cartel.
Prior to agreeing to the Lufthansa settlement, DB Barnsdale already had reached settlement with Air France-KLM, Qantas, SAS and Singapore Airlines.
Six defendants still remain in proceedings before the Cologne court: Air Canada, British Airways, Cargolux, Cathay Pacific, Japan Airlines and LAN Chile/LATAM.
In 2012, LAN Airlines and that carrier's subsidiaries in Peru, Argentina, Colombia and Ecuador, LAN CARGO and subsidiaries, and TAM Linhas Aereas and that carrier's business units TAM Transportes Aereos del Mercosur and loyalty program Multiplus merged to form LATAM Airlines Group, adopting the single brand. LATAM.
Martinair, previously owned 50/50 by KLM and sea and land transport giant Maersk, now is part of Air France-KLM Group.
Image Sourced from Pixabay
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.