UK Cuts Price-Fixing Fine To £58.5M For British Airways

Law360, New York (April 19, 2012, 12:25 PM EDT) -- Britain's competition authority on Thursday reduced one of the largest fines it ever imposed, cutting a £121 million ($194.3 million) penalty against British Airways PLC to £58.5 million ($94 million) for the airline’s participation in a scheme to fix plane ticket prices.

The U.K. Office of Fair Trading’s decision, which will be published in detail later this year, and the accompanying penalty — which is a reduction of a fine imposed by the agency in 2007 as part of an early resolution agreement — bring an...
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