06/20/2013 04:07 EDT | Updated 08/20/2013 05:12 EDT

Cathay Pacific pleads guilty to price fixing conspiracy, fined $1.5 million

OTTAWA - Cathay Pacific Airways Ltd. has been fined $1.5 million by an Ontario court after pleading guilty to an air cargo price-fixing conspiracy.

The Competition Bureau says the plea relates to navigation surcharges that Cathay imposed on air cargo shipments to and from Canada from 1999 to 2003.

The watchdog's investigation into air cargo surcharges has netted eight criminal charges and over $24 million in fines so far.

Cargolux, Air France, KLM, Martinair, Qantas, British Airways and Korean Air have all pleaded guilty to fixing air cargo surchages, including fuel surcharges, for certain routes from Canada.

The Competition Bureau says it is continuing to investigate alleged price fixing at other air cargo carriers.