Freedom Air totally illegal but NZ got away with it.
And yet they were never deemed to have breached the Commerce Act.
Protecting market share versus predatory pricing......hell of a grey area and there's a reason case law is so limited on it. What limited case law does exist, the Privy Council were quite clear that an established player is within their rights to compete aggressively against new entrants to a market - even selling below cost is not necessarily viewed as being illegal.