Cathay fined in price-fixing case

 Cathay Pacific Airlines has been fined US$1.5 million for its involvement in a price-fixing scheme.

Cathay Pacific and seven other airlines have pleaded guilty to fixing the prices of navigation surcharges on cargo flown to and from Canada, CBC News reported.

The events were said to have occured between 1999 and 2003 and have thus far netted US$24 million in fines from airlines including Air France, KLM, Martinair, Korean Air, British Airways, Cargolux and Qantas.

“These types of agreements represent one of the most egregious forms of anti-competitive behaviour,” Competition Bureau commissioner John Pecman said.

The Competition Bureau was made aware of the price-fixing scheme when companies admitted fault through the agency’s immunity and leniency programs, which lessen criminal liability.

Sourced: etravelblackboardasia