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By Bloomberg News | February 16, 2006
A European and US investigation of possible price fixing by at least 12 cargo airlines, including AMR Corp.'s American Airlines and Air France-KLM Group, widened to Asia and Canada with a focus on surcharges for fuel and security risks.
The investigation involves routes within and outside Europe, with alleged illegal cooperation ''supposedly" dating to 2000, said SAS Group, the Stockholm-based owner of Scandinavian Airlines, which was raided Tuesday.
Cargo airlines often work together to carry freight, setting aside as much as 10 percent of space for partners. Carriers' price structures include surcharges that change depending on factors such as oil prices.
The European Commission, the European Union's executive arm, can impose fines of as much as 10 percent of annual sales on companies found to be operating a cartel.
A European and US investigation of possible price fixing by at least 12 cargo airlines, including AMR Corp.'s American Airlines and Air France-KLM Group, widened to Asia and Canada with a focus on surcharges for fuel and security risks.
The investigation involves routes within and outside Europe, with alleged illegal cooperation ''supposedly" dating to 2000, said SAS Group, the Stockholm-based owner of Scandinavian Airlines, which was raided Tuesday.
Cargo airlines often work together to carry freight, setting aside as much as 10 percent of space for partners. Carriers' price structures include surcharges that change depending on factors such as oil prices.
The European Commission, the European Union's executive arm, can impose fines of as much as 10 percent of annual sales on companies found to be operating a cartel.
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