Author Topic: Price Fixing in Cargo Services  (Read 552 times)

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Price Fixing in Cargo Services
« on: November 10, 2010, 05:28:54 PM »
The European Commission on Tuesday fined 11 air cargo carriers, including Air France-KLM and British Airways, a total of 799 million euros (1.1 billion U.S. dollars) for price fixing in cargo services.

"It is deplorable that so many major airlines coordinated their pricing to the detriment of European businesses and European consumers," said Joaquin Almunia, commission vice president in charge of competition.

The 11 carriers fined by the commission were Air Canada, Air France-KLM, British Airways, Cathay Pacific, Cargolux, Japan Airlines, LAN Chile, Martinair, SAS, Singapore Airlines and Qantas.

Germany's Lufthansa, which also participated in the price-fixing cartel, received full immunity from penalty because it was the first to provide information about the cartel.

The commission found that the carriers coordinated their action on surcharges for fuel and security without discounts over six years, from December 1999 to February 2006.

The cartel arrangements consisted of numerous contacts between airlines, at both bilateral and multilateral level, covering flights from, to and within Europe.

Air France-KLM was hit with the biggest sum of fine, which amounted to 183 million euros (255 million U.S. dollars), while British Airways came in second, facing a fine of 104 million euros (145 million U.S. dollars). = phil news agency

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