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.
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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.
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