Air cargo shaken by price-fixing probe

Asia Times Online :: China News, China Business News, Taiwan and Hong Kong News and Business.: "Asian airlines are waiting anxiously for the other shoe to drop in a price-fixing scandal whose widening global net has cast a pall over the US$50 billion air-cargo business. Japan Airlines, Cathay Pacific Airways, Singapore Airlines, Nippon Cargo Airlines and two South Korean carriers - Korean Air and Asiana Airlines - have all confirmed that they are being investigated for possible cartel activity. [AsiaTimes]

The probe comes at a time when Asian airlines are licking their chops over the burgeoning air cargo business in China. With Chinese airlines still primarily focused on the passenger side of



aviation, foreign carriers are positioning themselves to take advantage of the booming sector. "