British Airways and Korean Admit to Price Fixing Conspiracy

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Two Major Airlines Admit to Price Fixing

Thursday August 23, 11:45 am ET
By Matt Apuzzo, Associated Press Writer

British Airways, Korean Air Fined $300 Million in Price-Fixing Conspiracy Case

WASHINGTON (AP) -- Two major airlines were fined $300 million apiece Thursday after admitting they conspired to fix prices on international flights.

British Airways PLC, Britain's largest airline, and Korean Air Co., South Korea's national carrier, pleaded guilty to antitrust conspiracy charges. Both saw their potential fines reduced because they cooperated with Justice Department investigators.

U.S. District Judge John D. Bates said the case "involved considerable commerce and reflected long-term and widespread conduct involving major airlines and players." More...

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So does the money get returned to the passengers and cargo customers, or does the government keep it? :wink:

Hasn't BA been busted for this before? Around five to ten years ago?