Dépêches
LAN CARGO Announces Filing
Dépèche transmise le 7 juin 2011 par Business Wire
LAN CARGO Announces Filing
SANTIAGO, Chile--(BUSINESS WIRE)--LAN CARGO announces that on June 6, its board of directors approved a settlement agreement related to the civil class action pending before the United States District Court for the Eastern District of New York.
The civil class action was initiated against 42 airlines, among which LAN CARGO and ABSA were included. As of today, ten airlines including: Lufthansa, American Airlines, Japan Airlines, Air France-KLM, SAS, All Nippon Airways, Cargolux, Qantas, Thai Airways and British Airways have all reached similar settlement agreements with the class action plaintiffs and agreed to pay settlement amounts which total US$ 367.9 million.
Once this settlement agreement is approved by the United States District Court for the Eastern District of New York, it will conclude the civil class action lawsuit against LAN CARGO and ABSA. The settlement agreement establishes that LAN CARGO pay the amount of US$59.7 million and ABSA, in which LAN Cargo has an ownership stake, pay US$6.3 million, for a total amount of US$ 66 million. The payment of the full amount will be disbursed no later than June 14, 2011.
The civil class action originated as result of an investigation initiated by the Department of Justice of the United States ("DOJ") of a significant number of airlines, among them LAN CARGO and ABSA. The investigation was concluded with the execution of a Plea Agreement that was announced by the Company on January 21, 2009. As of today, 19 airlines have executed similar plea agreements with the DOJ.
The company maintains a policy of rigorous compliance with all applicable laws and regulations in the countries in which it operates. As part of its permanent commitment to good corporate governance and transparency in its corporate actions, LAN has further reinforced the control mechanisms of its strict compliance program. Furthermore, the company has implemented a new code of conduct that will govern all of its employees worldwide.
About LAN
LAN Airlines is one of the leading passenger and cargo airlines in Latin America. The company and its affiliates serve over 76 destinations around the world through an extensive network that offers full connectivity within Latin America, while also linking the region with North America, Europe and the South Pacific, as well as 93 additional international destinations through its various code share agreements. LAN Airlines and its affiliates have a leading position in their respective domestic markets of Chile and Peru as well as an important presence in the Argentinean and Ecuadorian domestic markets. Furthermore, in November 2010, LAN acquired Colombian airline AIRES.
Currently, LAN Airlines and its affiliates operate 123 passenger aircraft while LAN Cargo and its respective affiliates have a fleet of 14 dedicated freighters. The Company has one of the youngest fleets in the world which has meant greater efficiency and a significant reduction in CO2 emissions, reflecting its strong commitment to the protection of the environment.
LAN is one of the few Investment Grade airlines in the world (BBB). The company’s world class quality standards enabled its membership in oneworld™, an alliance of leading global airlines of which LAN has been a member for 10 years. For more information please visit www.lan.com or www.oneworldalliance.com
- 24/04Ibis Styles London Heathrow : l'hôtel géré par un passionné d'aviation pour les passionnés d'aviation (photos + vidéos)
- 23/04 SkyUp renouvelle son partenariat avec Wizz Air
- 23/04 Play : résultats de mars 2024
- 23/04 Les garde-côtes japonais commande trois Airbus H225 supplémentaires
- 23/04 Vueling et Make-A-Wish France signent un partenariat
- 23/04 TUI annonce ses destinations au départ de Deauville pour l'été 2024.
- 23/04 Twin Jet renforce son programme de vols sur la ligne Toulouse/Rennes
- 23/04 Norse Atlantic Airways : résultats du mois de mars 2024
- 23/04 Volotea renforce son offre entre Lille et le Maroc
- 22/04 Finnair a dévoilé son programme de vol pour les saisons hiver 2024 et été 2025
- 22/04 Qatar Airways annonce le lancement de vols à destination de Kinshasa
- 22/04 Vietnam Airlines et CAE prolongent leur accord
- 22/04 Mermoz Academy de Tours commande des Tecnam P-Mentor
- 22/04 Transavia France reçoit son 2e Airbus A320neo
- 20/04 Friedrichshafen 2024 : Blackwing présente un nouveau modèle de son BW650RG
- 20/04 Friedrichshafen 2024 : JMB Aircraft présente son Phoenix
- 19/04 Friedrichshafen 2024 : le projet "Fly To The North"
- 19/04 Friedrichshafen 2024 : Aura Aero présente pour la première fois ses trois appareils
- 19/04 Friedrichshafen 2024 : Duc Hélices présente son hélice Tiger-3
- 19/04 Friedrichshafen 2024 : Splash-in Aviation expose son Pétrel X