Thank You For Flying WTF Airlines: 21 Fined For Int'l Price-Fixing
A large scale price-fixing scheme involving international air carriers has cost U.S. consumers and businesses hundreds of millions of dollars, say federal prosecutors.
Between 2000 and 2006, 21 airlines "allegedly conspired with competitors to inflate passenger and cargo fuel surcharges," notes FOX LA. Federal prosecutors and investigators are not discussing details, however, as investigations are still pending in one of the largest criminal antitrust cases in U.S. history.
Those caught by the Justice Department have paid in total more than $1.7 billion in fines, 19 executives have been charged and four have gone to prison. Among the convicted: British Airways, Korean Air, and Air France-KLM, however no major U.S. carriers have been charged.