Swiss Regulator Fines Airlines $11M For Price-Fixing
Law360, New York (January 13, 2014, 6:59 PM EST) -- Switzerland's competition watchdog said Friday that it had fined 11 airlines a total of 11 million Swiss Francs ($12 million) for fixing freight prices in the early 2000s, following similar investigations by U.S. and European Union authorities.
The Competition Commission, known as WEKO, said its investigation had revealed that the airlines had agreed on freight rates, fuel surcharges, war risk surcharges, customs clearance surcharges for the U.S. and the commissioning of surcharges. All those elements were part of the price that was charged for air freight transport between 2000 and 2005.
The airlines fined by WEKO are Korean Air Lines Co....
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