Qantas will admit its guilt in relation to “price fixing conduct within its freight division” at a penalty hearing in New Zealand next month.

The company is attempting to cut a deal with the New Zealand Commerce Commission after reaching a settlement for its participation in a freight cartel between 2000 and 2006.

Qantas today released a statement advising that it has recommended a fine of NZD6.5 million – a figure reflecting a 50 percent discount for “Qantas’ cooperation with the Commission in its investigation of the cartel”.

“Qantas has already resolved its liability (and that of its current employees) to regulators in the US, Australia, Canada, Korea and Europe for its freight division’s conduct,” the statement read.

“In each case the fine imposed on Qantas reflected a considerable cooperation discount.”