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January 3, 2008 |
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BRITISH AIRWAYS: Faces Air Cargo Cartel Charges from EU British Airways plc confirmed that it received a statement of objections from the European Commission, concerning its alleged participation in a cartel in the provision of airfreight services, in violation of EU rules on restrictive business practices (Article 81 of the EC Treaty and Article 53 of the Agreement on the European Economic Area), published reports say. According to BBC News, Air France-KLM and SAS also received statements of objections from the commission. The airlines, however, pledged to fully cooperate with the EU regulators' investigation, which dates back to early 2006, BBC relates. Procedural Background A statement of objections is a formal step in commission antitrust investigations in which the commission informs the parties concerned in writing of the objections raised against them. The addressee of a statement of objections can reply in writing to the statement of objections, setting out all facts known to it which are relevant to its defense against the objections raised by the commission. The party may also request an oral hearing to present its comments on the case. The commission may then take a decision on whether conduct addressed in the statement of objections is compatible or not with the EC Treaty's antitrust rules. Sending a statement of objections does not prejudge the final outcome of the procedure. Bloomberg News reveals under EU rules, companies found guilty of antitrust violations can be fined as much as 10% of their annual sales. Headquartered in West Drayton, United Kingdom, British Airways plc -- http://www.ba.com/ -- operates of international and domestic scheduled and charter air services for the carriage of passengers, freight and mail, and provides of ancillary services. The British Airways group consists of British Airways plc and a number of subsidiary companies including in particular British Airways Holidays Ltd. and British Airways Travel Shops Ltd. BA has offices in India and Guatemala. * * * British Airways plc carries a senior unsecured debt rating of Ba1 from Moody's Investors' Service with a stable outlook. |
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