American Airlines says it didn't rig airfares, settles suit for $45M

American Airlines has agreed to settle a consumer antitrust lawsuit that alleges the company colluded with other major U.S. airlines to limit plane capacity and jack up the cost of airfare, according to Fortune.

The antitrust cases were brought in 2015, and alleged that major U.S. airlines' prices rose significantly even though demand was stagnant and the price of jet fuel was decreasing.

Delta Airlines, United Continental Holdings and Delta Airlines are still facing litigation, though Southwest Airlines already has won approval to pay $15 million and cooperate on the case. An American Airlines spokesperson said its $45 million settlement does not include admitting any wrongdoing on the company's part, and it still denies the allegations.

"Despite our firm conviction in the appropriateness of our actions, costs to defend against antitrust litigation often run into the tens of millions of dollars," said Matt Miller, a spokesperson for American, according to Fortune. "So while it is difficult to agree to a settlement when we believe we were right on the law and the facts, settling this case is a prudent decision for American."

As part of the settlement, American will surrender business records and make three current or former employees answer questions under oath.

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