Monday, November 8, 2010

Airlines facing fine for price fixing

Apparently several airlines were operating an illegal cartel from 2001 until 2006.

None of the airlines mentioned are U.S. owned.

Lufthansa will escape fines, as they are the one who informed the authorities of the cartel.

From The Journal of Commerce

Air France KLM and British Airways, which were fined $350 million and $300 million respectively in the U.S., are among airlines facing substantial fines from the EU.

Cathay Pacific, Japan Airlines, Alitalia and All Nippon Airways have confirmed they have been investigated.

Lufthansa, Europe's largest cargo carrier, is not facing a fine as it informed the Commission about the cartel's activities.

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