OFT withdraws criminal proceedings against British Airways executives
UK Office of Fair Trading decided (10-May-2010) to withdraw its criminal proceedings against four present and former British Airways executives for price fixing. The decision follows the discovery last week of a substantial volume of electronic material from employees of Virgin Atlantic Airways, which neither the OFT nor the defence had previously been able to review. The OFT will also be reviewing the role played by Virgin Atlantic and its advisers in light of the airline's obligations to provide the OFT with continuous and complete cooperation. This may have potential consequences for Virgin's immunity from penalties. British Airways has already set aside a GBP350 million provision to settle all claims. [more]
British Airways: “As yet, no fine has been imposed on British Airways because the OFT had put the civil case on hold pending the outcome of the criminal proceedings. Like the OFT, we will consider the implications of the trial outcome for the civil settlement we agreed in 2007," Company statement, 10-May-2010.