EU TO FINE AIRLINES FOR GLOBAL CARTEL

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By TESTCustomwebLP TESTCustomwebLP November 9, 2010 21:11

EU TO FINE AIRLINES FOR GLOBAL CARTEL

The European Commission expected to fine several airlines, including Air France-KLM and British Airways, for colluding in setting surcharges for their cargo operations. As whistleblower on the case Deutsche Lufthansa is expected to avoid any fine.

The fines are expected to run into millions as the Commission is allowed to fine up to 30% of the companies’ revenue with further sums added for aggravating circumstances for each year the cartel operated. Although many expect the fine to be lower given the economic situation in Europe. The airlines will have two months to launch an appeal.

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By TESTCustomwebLP TESTCustomwebLP November 9, 2010 21:11
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