10 November 2010
British Airways, Air France KLM and nine other airlines have been fined a total of £678 million (€800 million) by the European Commission (EC) for being involved in an illegal cartel. The airlines were found guilty of conspiring on the prices they charged for the transport of cargo between December 1999 and February 2006.
The airlines that received the largest fines were:
· Air France KLM £288 million (€340 million);
· British Airways £90 million (€104 million),
· Singapore Airlines £63.5 million (€74.8 million);
· Cathay Pacific £48 million (€57 million); and
· Scandinavian carrier, SAS, was given an increased penalty £60 million (€70 million), as it was previously fined in a cartel case in 1998.
Air Canada, Cargolux, Japan Airlines, LAN Chile, Martinair, and Qantas also received smaller fines.
The EC said that when deciding the amount each airline should pay, it took into account the sales of the companies involved, the nature of the infringement, the scope of the cartel and its duration. Lufthansa also took part in the cartel, but received immunity after it acted as whistleblower to the EC on the deals.
http://www.abtn.co.uk/news/1014913-ec-fines-11-airlines-price-fixing