OFT slashes BA's price-fixing fine
The Office of Fair Trading (OFT) has more than halved the fine it slapped on British Airways back in 2007 for colluding with its rival Virgin Atlantic on fuel surcharges.
The Office of Fair Trading (OFT) has more than halved the fine it slapped on British Airways back in 2007 for colluding with its rival Virgin Atlantic on fuel surcharges.
The OFT had originally fined British Airways, now part of IAG (International Consolidated Airline Group), £121.5m after conducting an investigation into pricing on long-haul flights during a period spanning from August 2004 to January 2007; that fine has now been reduced to £58.5m.
The OFT said the decision to go easier on British Airways reflected recent case law in calculating fines as well as the level of co-operation shown by the airline since the original fine was imposed in August 2007.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Virgin Atlantic was not fined for its part in the collusion because it had been the one to "grass" to the Office of Fair Trading.
JH
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Shein shifts IPO focus to Hong Kong
The development piles fresh pressure on London’s beleaguered stock market, which many had hoped would be boosted by Shein’s IPO
-
Scientists turn lead into gold – could it wreck the yellow metal's price?
Medieval alchemists have been vindicated after scientists turned lead into gold, but the results aren’t going to crash the gold price any time soon