April 23, 2010

Cathay Pacific Airways said on Friday that it would cooperate in full with the relevant authorities in relation to a British investigation into the pricing practices of passenger airlines.

Britain's competition watchdog, the Office of Fair Trading (OFT), said on Thursday that Cathay Pacific and Virgin Atlantic may have illegally co-ordinated prices for passenger flights between London and Hong Kong.

The OFT issued a statement of objections alleging that the two had infringed competition laws after Cathay Pacific brought the matter to its attention.

"Cathay Pacific has applied for and been granted immunity from any financial penalty by the OFT in relation to this matter, conditional upon Cathay Pacific's full cooperation with the investigation," the Hong Kong carrier said in a statement. "Cathay Pacific has a policy of full compliance with competition law and will cooperate in full with the requirements of any relevant authorities."

(Reuters)

Source: http://news.airwise.com/story/view/1272021714.html