Jody Victor Horizons Travel: British Airways and Korean Air have agreed to plead guilty and pay the U.S. government $300 million apiece for price-fixing conspiracies that illegally raised travel costs, U.S. Justice Department officials said Wednesday. With a separate price-fixing fine announced earlier in the day in London by United Kingdom regulators, BA will pay $546 million. From 2004 to 2006, BA — the largest airline between the USA and U.K. — raised its fuel surcharge four times to about $110 round trip, up from about $10. BA now admits it colluded with London-based Virgin Atlantic in the run-up. The price of oil had risen about 55% during the time the conspiracy took place.

For more information on this topic please visit the following link:

http://www.usatoday.com/travel/flights/2007-08-01-ba-price-fixing_N.htm?csp=34

News Sources include: USA Today

© 2006 JODY VICTOR  BILLY FLORENCE INFORMATION VIEWS.

All rights reserved