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Busted! 21 Airlines in trouble for price-fixing collusion

  • 11-03-2011 7:15pm
    #1
    Overheal
    Registered Users, Registered Users 2 Posts: 86,729 ✭✭✭✭


    The Justice Department has fined 21 airlines in a massive global price-fixing scheme. British Airways, Air France-KLM and Virgin Atlantic were among the airlines indicted. Even four executives have gone to jail. What did they do? The JD charges that the airlines colluded to artificially inflate fuel surcharges for passengers industry-wide, as well as cargo surcharges. The case probably wouldn't have been broken if Luthansa and Virgin Atlantic hadn't come forward and confessed under the Justice Department's amnesty program that provides leniency for finking. In an interesting turn, the scheme was so codified that various airlines had entire committees and sub-committees devoted to managing it.
    21 airlines fined in price-fixing scheme [MSNBC] (Thanks to Chuck!)
    http://consumerist.com/2011/03/21-airlines-fined-in-price-fixing-scheme.html

    Damn straight, they can all go to hell with their baggage claim fees and their taking away of peanuts. They took away the peanuts! THEY ALL took away the Peanuts, those bastards. It was allll part of the plan.

    Anyway, I'm glad they're all going to be fined $1.7 Billion: a collective drop in their exploitatively large buckets. BA alone made £8 billion in revenues last year. I hope the EU follows up with it's own investigation and lawsuits.


Comments

  • #2
    Naikon
    Closed Accounts Posts: 4,564 ✭✭✭Naikon


    This is probably the tip of the iceberg imo.


  • #3
    amacachi
    Closed Accounts Posts: 23,316 ✭✭✭✭amacachi


    About time but laughable how rarely such fines happen.

    Also I love the confession sitation "OK, if any of you did this come forward and you won't be in trouble, but the others will be." I'd say they were all tempted to say it happened. :pac:


  • #4
    Manic Moran
    Moderators, Society & Culture Moderators Posts: 16,646 Mod ✭✭✭✭Manic Moran


    Overheal wrote: »
    Damn straight, they can all go to hell with their baggage claim fees and their taking away of peanuts. They took away the peanuts! THEY ALL took away the Peanuts, those bastards. It was allll part of the plan.

    SouthWest still issues peanuts on their flights, I'm happy to report.

    There's a reason they're the biggest airline in the US.

    NTM


  • #5
    Daegerty
    Closed Accounts Posts: 1,864 ✭✭✭Daegerty


    This stuff has been going on for years BA cargo from a few years ago comes to mind. Notoriously difficult to prove but eventually they get found out


  • #6
    qz
    Registered Users, Registered Users 2 Posts: 8,753 ✭✭✭qz


    The leniency programme is so expansive in the EU that a whistleblower is given complete amnesty from any fines imposed by the Commission.


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  • #7
    Daegerty
    Closed Accounts Posts: 1,864 ✭✭✭Daegerty


    qz wrote: »
    The leniency programme is so expansive in the EU that a whistleblower is given complete amnesty from any fines imposed by the Commission.

    Whistleblowers are scarce enough as it is. A lot of cases would never be found out if it wasn't for them


  • #8
    Sonics2k
    Registered Users, Registered Users 2 Posts: 8,261 ✭✭✭Sonics2k


    So, are we getting the peanuts back?


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