Air cargo capacity squeeze could linger 'until the end of the decade'
Air cargo’s capacity shortage “will not be resolved any time soon”, and could linger “until ...
© Igor Zhorov
By Alex Lennane
The first sentence in the Polar Air Cargo corruption case has been doled out, to Lars Winkelbauer, its former chief operating officer. His more-than-decade-long scheme to take kickbacks, along with other management, caused Polar to lose more than $32m in revenue. He received four years in prison, must forfeit $6.7m, and make restitution to Polar in the amount of $32,902,847.
Polar is jointly owned by Atlas Air and DHL – neither of which have commented on the fraud and how it was able to go on for so long. US attorney Damian Williams said the sentence sent an important message: “Corporate corruption doesn’t pay”. You can read the full statement here.
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