British Airways fined $323 million over price fixing

LONDON - British Airways has been fined 121.5 million pounds ($323 million) for anti-competitive activity over ticket pricing, consumer watchdog the Office of Fair Trading said on Wednesday.

The OFT said BA had admitted colluding with rival Virgin Atlantic over the setting of transatlantic passenger fuel surcharges from August 2004 to January 2006.

Virgin Atlantic was not penalised, having be granted whistleblower immunity by the competition authority.

British Airways said it has also entered into a plea agreement with the US Department of Justice over the affair.

- REUTERS