21 Airlines Fined $1.7 Billion In Price-Fixing Scheme

The Justice Department has fined 21 airlines in a massive global price-fixing scheme. British Airways, Air France-KLM and Virgin Atlantic were among the airlines indicted. Even four executives have gone to jail. What did they do? The JD charges that the airlines colluded to artificially inflate fuel surcharges for passengers industry-wide, as well as cargo surcharges. The case probably wouldn’t have been broken if Luthansa and Virgin Atlantic hadn’t come forward and confessed under the Justice Department’s amnesty program that provides leniency for finking. In an interesting turn, the scheme was so codified that various airlines had entire committees and sub-committees devoted to managing it.

21 airlines fined in price-fixing scheme [MSNBC] (Thanks to Chuck!)

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