Monday, March 7, 2011

21 airlines fined for fixing fees



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WASHINGTON — Federal prosecutors say a massive price-fixing scheme among international air carriers has cost U.S. consumers and businesses hundreds of millions of dollars.

The airlines allegedly conspired with competitors to inflate passenger and cargo fuel surcharges. Prosecutors say the price-fixing occurred between 2000 and 2006 as airlines tried to make up for lost profits.

Since then, those caught by the Justice Department have paid a hefty price. Twenty-one airlines have paid more than $1.7 billion in fines, and 19 executives have been charged with wrongdoing. Four have gone to prison.

Among those convicted are British Airways, Korean Air, and Air France-KLM. No major U.S. carriers have been charged.

It’s one of the largest criminal antitrust cases in U.S. history, and it’s not over. Federal prosecutors and investigators say they won’t discuss details of the cases because they are still investigating.




By

NEHA JAIN

      

   

     



            
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