Air New Zealand will be paying $52 million NZD to settle a long running class action.

It's over allegations the airline worked with other international carriers to increase the price of cargo, by imposing fuel charges between 2000 and 2006.

The US Justice Department dropped its criminal investigation against Air New Zealand and the airline has not admitted to being part of the alleged conspiracy.

The airline's General Counsel John Blair said there was no credible evidence that any Air New Zealand employee participated in any conspiracy, but the potential for an unexpected verdict was not an acceptable commercial risk for the airline.