British Air reportedly offered a Laker settlement.
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State-owned British Airways has offered creditors of Sir Freddie Laker’s bankrupt airline about $84 million in an effort to end an antitrust suit against nine major air carriers, London’s Mail newspaper reported. The paper said that lawyers for British Airways, acting on behalf of the nine, made the offer in Florida on Saturday. Receivers for the cut-rate Laker Airways have filed a multimillion dollar antitrust suit against the carriers, charging that they conspired to bankrupt Laker. Receivers are claiming about $997 million in damages against the airlines, of which Laker hoped to get $33.6 million to start the airline anew, the newspaper said.
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