The European Commission has fined 11 airlines almost 800m euros (£690m) for fixing the price of air cargo between 1999 and 2006.
Had the Commission not intervened the "deplorable" cartel "would have continued", said EU Competition Commissioner Joaquin Almunia.
The illegal cartel had harmed both companies and consumers, he said.
British Airways was fined 104m euros, Air France-KLM 340m euros and Cargolux Airlines 79.9m euros.
The fines follow lengthy investigations by regulators in Europe, the US and Asia, dating back to 2006.
The EU said that the airlines "co-ordinated their action on surcharges for fuel and security without discounts", between early 1999 and 2006.
"The carriers contacted each other so as to ensure that worldwide air freight carriers imposed a flat rate surcharge per kg for all shipments".
BBC News
