South Korea fines airlines

SOUTH Korea’s Fair Trade Commission (FTC) has fined 19 airlines a total of 120 billion won (US$98 million) fine for cargo price-fixing, cautioning two others.

The FTC found the airlines guilty of conspiring to introduce fuel surcharges for freight cargoes or continued to raise them over the past seven years. This is estimated to have resulted in the loss if $5 billion worth of sales in the South Korean market.

Korean Air Lines took the brunt of the fine – $39 million – with Asiana Airlines next heavily fined with $16 million. However, Korean Air will actually only pay $18 million because it voluntarily admitted its wrong doing to the FTC.

Other airlines fined include Air France, Cathay Pacific Airways, Japan Airlines International, Lufthansa and Singapore Airlines, while the two companies warned were Air India and Scandinavian Airlines System.

Share this story

Related Topics

Latest news

DSV ups airfreight capacity across network with new charter services

By Rachelle Harry

DSV has launched three new air cargo charter routes, which connect five continents, to meet increased demand for air freight…

Read More

Share this story

Network Airline Services renews GSA contract with RwandAir

Network Airline Services (NAS) has renewed its GSA contract with RwandAir in Germany and France, extending the partnership between the…

Read More

Share this story

CEVA relocates Thailand head office to Bangkok

CEVA Logistics has relocated its Thailand head office to Bangkok, as it continues to expand in Asia. The announcement follows…

Read More

Share this story