01 August 07
British
Airways braces itself for US penalty
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BA is bracing itself for another
massive fine this afternoon after admitting that it fixed fuel surcharge
prices with Virgin Atlantic.
The Office of Fair Trading has fined BA
£121.5 million and US authorities will give details of its penalty
later.
BA has put aside £350 million to pay
its fines and said it expects this amount to cover the total.
BA and Virgin Atlantic were involved in
fixing fuel price surcharges between 2004 and 2006.
This is regarded as anti competitive behavior
and banned by both UK and US authorities.
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