broadband circuit
17th Dec 2012, 03:12
Thai Airways fined $7.5m for price-fixing (http://finance.ninemsn.com.au/newsbusiness/8581410/thai-airways-fined-7-5m-for-price-fixing)
Thai Airways has admitted to engaging in price-fixing in a global air freight cartel and has been fined $7.5 million in the Federal Court.
The airline, which was one of several pursued by the Australian Competition and Consumer Commission (ACCC), settled its case and admitted to reaching understandings with other airlines about certain charges for fuel, security and customs between 2001 and 2005.
Qantas, Malaysia Airlines, Emirates, Cathay Pacific, Singapore Air Cargo and Korean Air Lines have previously been fined for their parts in the price-fixing agreement.
It seems that the management at all airlines are cut from the same cloth.
Thai Airways has admitted to engaging in price-fixing in a global air freight cartel and has been fined $7.5 million in the Federal Court.
The airline, which was one of several pursued by the Australian Competition and Consumer Commission (ACCC), settled its case and admitted to reaching understandings with other airlines about certain charges for fuel, security and customs between 2001 and 2005.
Qantas, Malaysia Airlines, Emirates, Cathay Pacific, Singapore Air Cargo and Korean Air Lines have previously been fined for their parts in the price-fixing agreement.
It seems that the management at all airlines are cut from the same cloth.