Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Switzerland Competition Commission fines airlines in air freight price fixing investigation, (Jan 13, 2014)
Organizations Mentioned:AMR Corporation (American Airlines) | Air France-KLM SA | Amr Corp. | Atlas Air Worldwide Holdings, Inc. (Polar Air Cargo Worldwide, Inc.) | British Airways Plc. | Cargolux Airlines International S. A. | Cathay Pacific Airways Limited | Cathay Pacific Airways Ltd. | Deutsche Lufthansa AG | Deutsche Lufthansa, AG | Japan Airlines Co., Ltd. | Korean Air Lines Co. Ltd. | SAS AB | SAS AB (Scandinavian Airlines) | Singapore Airlines Limited | United Continental Holdings, Inc.
The Switzerland Competition Commission (COMCO) has announced its imposition of fines on several airlines in connection with its investigation of price fixing for air freight transportation. Between 2000 and 2005, several airlines agreed on certain terms of the price for air freight transport, according to the agency’s January 10 announcement. The investigation revealed that the airlines agreed on freight rates, fuel surcharges, war risk surcharges, customs clearance surcharges for the United States, and the commissioning of surcharges—all elements of the price that is charged for air freight transport. The airlines were fined 11 million Swiss Francs in connection with the price fixing agreement.
The following airlines were fined: Korean Air Lines Co. Ltd., Atlas Air Worldwide Holdings, Inc. (Polar Air Cargo Worldwide, Inc.), AMR Corporation (American Airlines), United Continental Holdings, Inc., SAS AB (Scandinavian Airlines), Japan Airlines Co., Ltd., Singapore Airlines Limited, Cathay Pacific Airways Limited, Cargolux Airlines International S. A., British Airways Plc. and Air France-KLM SA.
Deutsche Lufthansa AG received complete immunity from the sanction. As subsidiary of the Deutsche Lufthansa AG, Swiss International Air Lines AG also received full immunity from the sanction. After the initiation of the legal proceedings, British Airways Plc., Cathay Pacific Airways Limited, Japan Airlines Co., Ltd., Air France-KLM SA and Cargolux Airlines International S.A. submitted leniency applications which substantially reduced the sanctions.
Companies: Korean Air Lines Co. Ltd.; Atlas Air Worldwide Holdings, Inc. (Polar Air Cargo Worldwide, Inc.); AMR Corporation (American Airlines); United Continental Holdings, Inc.; SAS AB (Scandinavian Airlines); Japan Airlines Co., Ltd.; Singapore Airlines Limited; Cathay Pacific Airways Limited; Cargolux Airlines International S. A.; British Airways Plc.; Air France-KLM SA; Deutsche Lufthansa AG
News: Antitrust