British Airways to be fined for price fixing

WASHINGTON (CNN) -- The Justice Department Wednesday will announce millions of dollars in fines against British Airways following a price-fixing investigation into fuel surcharges by air carriers, according to industry sources familiar with the case.

Justice Department sources declined to comment in advance of the announcement.

Antitrust officials from the Justice Department have called a 10 a.m. ET news conference to provide details of their investigation into British Airways alleged attempts to collude with Virgin Atlantic Airlines on fuel surcharge levels.

Antitrust authorities in the United Kingdom also investigated the issue, and the settlements expected to be announced would resolve both investigations according to the industry sources. A

A published report in Britain said the airline expected to pay fines estimated at about $700 million.