Companies

BA fined $300m for price-fixing

British Airways (BA) has formally pleaded guilty to charges of conspiring to fix prices of fuel surcharges on cargo and longhaul passenger flights.

A US district court approved an agreement between BA and the US Department of Justice that requires the airline to pay fines of $300m.

Sentencing guidelines could have seen BA facing fines of up to $900m, but the airline said its co-operation with the US government had earned it a significant reduction.

September 2007