Breaking News

Asia Today ISSN 1861-4604 Saturday, May 27, 2017

Headline

European Commission reimposes fine of 776 million euros on 11 airlines

European Commissions reimposed a fine

Share on Facebook March 18, 2017, Reporter : Big News Network, Reader : 383

news

BRUSSELS, Belgium - The fine that was first imposed in 2010, after a series of inspections were carried out on airlines, revealing a price-fixing cartel - has now been reimposed.> BNN

The European Commissions reimposed a fine of  776 million euros ($833 million) on 11 airlines for breaking anti-trust laws. 

The initial investigation had revealed that a series of inspections were carried out on airlines including Air France-KLM, British Airways and Cathay Pacific Airways and it was revealed that they were coordinating their prices for air cargo services.

The European Union’s General Court scrapped the initial fine in 2015 after slight discrepancies were pointed out in parts of the EC’s decision.

Now, the EU has said that the new documents fixed the errors.

Commissioner for Competition Margrethe Vestager said, “Working together in a cartel rather than competing to offer better services to customers does not fly with the Commission.

Vestager added that the fine would ensure the involved companies were sanctioned.

Lufthansa had, in 2015, alerted the EU to the cartel and requested immunity from any sanctions.

Lufthansa and its subsidiaries, Lufthansa Cargo and Swiss International Air Lines, were exempted from fines.

Further, the companies that cooperated with the investigation received a reduction of between 10 and 20 percent in their fines, except Singapore Airlines, which had to pay the full 74.8 million euros.

The fines were unchanged for all the airlines except for Martinair, whose fine was cut to 15.4 million euros from the 29.5 million euro amount set in 2010.

Meanwhile, Air France was fined 182.9 million euros, KLM was fined 127.1 million, British Airways was fined 104.4 million, Cargolux was fined 79.9 million and Singapore Airlines was fined 74.8 million.

Even Air Canada, Cathay Pacific Airways, Japan Airlines, LAN Chile and SAS were penalised. 

More Euro Asia news of the month

Photos Obama visits Berlin to boost Merkel’s re-election campaign, and targets Trump

BERLIN, Germany -  For a long time, former U.S. president Barack Obama has been missing from political action - but when he took...

Photos Dogged by skepticism following his previous criticism of the EU

BRUSSELS, Belgium - Making his EU debut during his first foreign trip since becoming president, Donald Trump reached Brussels on...

Photos As White House controversies spiral out of control, Donald Trump vows before Pope Francis

ROME, Italy - On Wednesday, U.S. President Donald Trump concluded his quest to promote “tolerance” among followers of three...

Photos Panic and pandemonium as bomb explodes at Manchester stadium

MANCHESTER, England, UK - The death toll has risen with twenty two people now confirmed dead and dozens more injured in the...

Photos Cannes 2017: Nicole Kidman attends film premiere

Nicole Kidman, 49, commanded attention as she arrived in style to The Killing of a Sacred Deer photocall at the 70th Cannes Film...

Photos Cannes 2017: Sonam looks fiery in red on Day 6

New Delhi [India], May 22 (ANI): After mesmerising everyone with her first red carpet appearance at 70th Cannes film Festival, Sonam...

Photos Luchino Visconti's 'The Leopard' to get TV series treatment

PanARMENIAN.Net - More than half a century after Claudia Cardinale, Alain Delon and Burt Lancaster strutted down the Cannes red carpet...

Photos Citing Julian Assange’s evasion of legal proceedings

STOCKHOLM, Sweden - Citing Wikileaks founder Julian Assange’s continued evasion of legal proceedings Swedish prosecutors on Friday...

Photos Citing Julian Assange’s evasion of legal proceedings

STOCKHOLM, Sweden - Citing Wikileaks founder Julian Assange’s continued evasion of legal proceedings Swedish prosecutors on Friday...

Flying Reimagined

Stock Index

Saturday, May 27, 2017

Life Style

Photo Gallery

FEUILLETON