Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Airlines Plead Guilty of Price Fixing

British Airways and Korean Air socked with $300M fines in ongoing investigation

By Dustin Lushing, Newser Staff

Posted Aug 2, 2007 4:28 AM CDT

(Newser) – British Airways and Korean Air have agreed to plead guilty and pay $300 million each in criminal fines for engaging in massive conspiracies to fix the prices of passenger and cargo flights for the past six years, the US Justice Department said yesterday. BA will... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

'Serpent Pastor' Dies of Snake Bite

Miami Face-Eater Identified

Reuters (Source Grid »)

British Airways named one of Europe's worst major airlines
Australia's News Network

Department of Justice • airline industry • antitrust • British Airways • conspiracy • Korean Air • planes • price fixing

More Newser Stories

2 Airlines Fined $300M Each for Price Fixing

British Airways and Korean Air both cooperated with the Justice Department

(NEWSER) - A US judge has fined British Airways and Korean Air $300 million apiece for conspiring to fix prices. Both carriers had their fines reduced—British Airways could have faced a fine as high as $900 million—after pleading guilty and cooperating with the Justice Department investigation into a global price-fixing scheme. More»

Continental, United Merging Into World's Biggest Airline

New behemoth hopes to turn around losses

(NEWSER) - United and Continental Airlines are joining to form the world's largest airline in a $3 billion deal, the carriers will announce today. The merger will test the notion that the money-losing airline industry can work better on a large scale—and test the Obama administration's antitrust regulators. While the companies see the deal as a merger of equals, United will dominate. The airline will keep the United name and United's Chicago headquarters, and United shareholders will own about 55% of the company. More»

Chocolate Makers Face Sticky Probe

US and Canada investigate possible price-fixing

(NEWSER) - Following a similar investigation in Canada last month, the Justice Department has launched a probe into possible price-fixing in the US chocolate industry. The suspects form a rich, creamy lineup: M&M maker Mars acknowledged it has been contacted by the DOJ, the Wall Street Journal reports. Nestle, too, says it is aware of the investigation but has not yet been contacted. Other makers declined comment. More»

DOJ Should Have Gone After Amazon, Not Apple

Price-fixing lawsuit focuses on wrong targets: David Carr

(NEWSER) - When the Justice Department decided to take on "the monopolistic monolith that threatened to dominate the book industry," it chose the wrong targets —five large publishers plus minor e-book player Apple—while ignoring the all-powerful Amazon, writes a dumbfounded David Carr in the New York Times . "That’s the modern equivalent of taking on Standard Oil but breaking up Ed’s Gas ’N’ Groceries on Route 19 instead." The DOJ's price-fixing lawsuit will keep e-book competition alive ... by basically helping Amazon squash the other players and once again reign supreme. More»

FCC Moves to Block T-Mobile, AT&T Merger

Which means the government will have two cracks at stopping the deal

(NEWSER) - AT&T thought its muscular lobbying operation would ensure regulatory approval of its deal to buy T-Mobile , but it’s not working out that way. FCC Chairman Julius Genachowski moved to block the merger yesterday, giving the government a second chance to break up the sale should an antitrust suit from the Justice Department fail, the Washington Post reports. It’s a surprising move, because the FCC hasn’t tried to block a merger since 2002. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Airlines Plead Guilty of Price Fixing

British Airways and Korean Air socked with $300M fines in ongoing investigation

Department of Justice • airline industry • antitrust • British Airways • conspiracy • Korean Air • planes • price fixing

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

2 Airlines Fined $300M Each for Price Fixing

British Airways and Korean Air both cooperated with the Justice Department

Continental, United Merging Into World's Biggest Airline

New behemoth hopes to turn around losses

Chocolate Makers Face Sticky Probe

US and Canada investigate possible price-fixing

DOJ Should Have Gone After Amazon, Not Apple

Price-fixing lawsuit focuses on wrong targets: David Carr

FCC Moves to Block T-Mobile, AT&T Merger

Which means the government will have two cracks at stopping the deal

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?