"Air New Zealand has withdrawn its proceeding challenging the Settlement Agreement in the Air Cargo proceeding and will pay costs to the Commission in relation to the settlement of this dispute.

The parties have agreed a basis for settling the proceedings. There will now be a penalty hearing and the parties are seeking the earliest available date for that hearing.  The parties will make no further comment until then."

Ends

Background

For further background information please read

http://www.comcom.govt.nz/business-competition-media-releases/detail/2013/more-penalties-in-long-running-air-cargo-cartel-case