American to pay $45M to settle airfare collusion lawsuit

American Airlines has agreed to pay $45 million to settle a lawsuit that says it and other major U.S. airlines colluded to drive up the price of airfares.

In settling the case, American denied any wrongdoing. The company, in a statement, said fighting the case in court would be costly.

Earlier this year, Southwest Airlines also reached a settlement in the case, agreeing to pay $15 million. Southwest also denied any wrongdoing.

The lawsuit alleges that major U.S. airlines colluded to limit capacity in order to increase ticket prices.