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19/04/2012
British Airways Fine Cut By More Than Half
A fine imposed on British Airways for price-fixing has been cut by over half by the Office of Fair Trading (OFT).
The original fine, imposed in 2007, was £121.5m, but the OFT has reduced that to £58.5m.
The reduction is said to reflect recent legal developments over fines and BA's co-operation in the case.
British Airways was fined for colluding over fuel surcharges with rival Virgin Atlantic. Virgin was not fined as it told authorities about the scheme.
"This decision brings an end to this investigation and sends out a strong message that co-ordinating pricing through the exchange of confidential information between competitors is unlawful,” said Ali Nikpay, OFT Senior Director of Cartels and Criminal Enforcement.
Adding: "The fine would have been higher still but for the co-operation provided by BA throughout the OFT's investigation.
"Without this, together with BA's admission of the infringement, the case would have taken considerably longer to resolve."
In a statement on Thursday British Airways said: "We are pleased that this matter, which concerned events between 2004 and 2006, has been settled."
(H)
The original fine, imposed in 2007, was £121.5m, but the OFT has reduced that to £58.5m.
The reduction is said to reflect recent legal developments over fines and BA's co-operation in the case.
British Airways was fined for colluding over fuel surcharges with rival Virgin Atlantic. Virgin was not fined as it told authorities about the scheme.
"This decision brings an end to this investigation and sends out a strong message that co-ordinating pricing through the exchange of confidential information between competitors is unlawful,” said Ali Nikpay, OFT Senior Director of Cartels and Criminal Enforcement.
Adding: "The fine would have been higher still but for the co-operation provided by BA throughout the OFT's investigation.
"Without this, together with BA's admission of the infringement, the case would have taken considerably longer to resolve."
In a statement on Thursday British Airways said: "We are pleased that this matter, which concerned events between 2004 and 2006, has been settled."
(H)
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