British Airways Fined $550M By U.K., U.S. Regulators

Law360, New York (August 1, 2007, 12:00 AM EDT) -- In a landmark fine, British Airways will pay $550 million to bring an end to allegations that it conspired with other airlines to set fuel charge prices for passengers and cargo.

The carrier will pay $246 million to the U.K. Office of Fair Trading, and $300 million to the U.S. Department of Justice after admitting that violated antitrust laws by fixing fuel surcharges at a predetermined price.

The DOJ also fined Korean Air $300 million for its role in the scheme.

"When British Airways, Korean Air...
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