British Airways to be fined for price fixing

Antitrust officials will provide details of their investigation into British Airways alleged attempts to collude with Virgin Atlantic Airlines on fuel surcharge levels.


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. Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.