EU fines airlines US$1.1 billion

EUROPE has fined 11 airlines €800 million (US$1.1 billion) for their part in price fixing airfreight fuel and security surcharges. The cartel ran from late 1999 to early 2006.

EU Competition Commissioner, Joaquin Almunia (right), said: “It is deplorable that so many major airlines coordinated their pricing to the detriment of European businesses and European consumers,” said Almunia. “With today’s decision the Commission is sending a clear message that it will not tolerate cartel behaviour.”

For the full story read the latest free digital edition of Air Cargo News, no. 690 dated 1 November, here.

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