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European antitrust commission investigating El Al for price fixing
Jan 1, 2007 | www.port2port.com
El Al reported last week to the Tel Aviv Stock Exchange that the European Competition Commission had requested that El Al provide information regarding an antitrust investigation in the field of air cargo.In a statement issued by the company it was noted that the investigation was being conducted into a long list of airlines as part of a global investigation which started in the US and Europe several months ago.
The investigation, announced publicly in February, relates to the air cargo pricing practices of a number of airlines. It is believed to focus on allegations of industry collusion in the United States and Europe to fix prices on surcharges for fuel. Airlines and cargo carriers, use surcharges to help offset rising fuel costs.
Several major air-cargo carriers were raided by U.S. and European antitrust enforcers as part of a trans-Atlantic investigation into possible price-fixing and collusion in air cargo.Federal Bureau of Investigation agents raided airlines facilities at New York's Kennedy Airport, confiscating computers and gathering documents.
The European Commission conducted its own raids at the same time, saying it had carried out "unannounced inspections" of airline facilities and offices in Europe.
Title Insurance Price Fixing
