British Airways Plc, Deutsche Lufthansa AG and Air France-KLM Group will appeal their share of a EUR799.4 million (USD1.1 billion) antitrust fine levied for colluding with competitors on air-cargo fuel and security surcharges (Bloomberg, 28-Jan-2011). Japan Airlines Corp, Cathay Pacific Airways Ltd (fined EUR57.1 million) and Cargolux Airlines International SA (fined EUR79.9 million), are also challenging the European Union decision that targeted 11 carriers in Nov-2010. SAS Group AB challenged its EUR70.2 million penalty and Japan Airlines appealed its EUR35.7 million fine with EU courts in Luxembourg. Air France and its units had the biggest penalty of EUR339.6 million and British Airways was fined EUR104 million by the commission. European Commission regulators sent complaints to 26 airlines, following coordinated antitrust raids worldwide that led to jail terms for some executives, fines and settlements. US authorities fined 18 airlines at least USD1.6 billion and filed criminal charges against 14 executives for price-fixing.
28-Jan-2011 11:36 AM