British Airways has agreed to pay $89.5 million to settle a class-action lawsuit which accused it and a number of other carriers of being involved in an air cargo cartel.

A $66 million settlement has also been reached with Lan, Lan Cargo and Brazilian subsidiary Aerolinhas Brasileiras (ABSA), according to Hausfeld, the Washington DC-based law firm representing the plaintiffs.

BA and Lan represent the 10th and 11th settlements in the case, bringing the total recovery to over $430 million, said the law firm.

"BA and Lan/ABSA have now taken an important step toward paying damages for their admitted price-fixing conduct," said Hausfeld chairman Michael Hausfeld.

"We will continue our efforts to pursue recoveries for the huge number of victims of this cartel, both in the US and around the world."

Source: Air Transport Intelligence news