British Airways Plc and Korean Air Line Co. Ltd. Agree to Plead Guilty and Pay Criminal Fines Totaling $600 Million for Fixing Prices […]

As stated by the US Department Of Justice, “WASHINGTON — U.K.-based British Airways Plc and South Korean-based Korean Air Lines Co. Ltd. have each agreed to plead guilty and pay separate $300 million criminal fines for their roles in conspiracies to fix the prices of passenger and cargo flights, announced the Department of Justice. Today’s plea agreements are the first to arise from the Antitrust Division’s ongoing investigation into the air transportation industry.The charges against the two airline companies were filed today in the U.S. District Court for the District of Columbia. Under the plea agreements, which are subject to court approval, British Airways and Korean Air have agreed to cooperate with the Department’s ongoing investigation.’The Department of Justice is committed to vigorous antitrust enforcement and will continue to bring to justice those who fix prices and thereby deprive the American public of the benefits afforded by a truly competitive market,’ said Attorney General Alberto R. Gonzales. ‘International law enforcement cooperation is crucial in prosecuting global cartels such as these, and today’s enforcement actions represent the successful coordination between the United States and the U.K.’s Office of Fair Trading.’.”This Press Release is available in full text.

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