FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

Virgin Atlantic in price fixing accusations

The Office of Fair Trading has today stepped forward with a suggestion that Virgin Atlantic employees met up with fellow employees from Cathay Pacific Airways to discuss commercially sensitive data. It is alleged, by the Office of Fair Trading, that this data effectively led to price fixing on the London-Hong Kong route. This is a very important business route and one which has proved very lucrative to those airlines servicing these needs.

This is not the first time that Virgin Atlantic, together with a number of other worldwide airlines, has been accused of exchanging commercially sensitive data with competitors. Indeed, Virgin Atlantic was involved in a similar investigation with British Airways some years ago which ultimately led to a massive fine for British Airways and an effective slap on the wrist for Virgin Atlantic for "whistleblowing".

It is unclear exactly what will happen next as the Office of Fair Trading has suggested there is insufficient evidence for a criminal prosecution but it still made its findings public. Whether or not the exchange of commercially sensitive data between various airlines around the world is commonplace or not this is a common theme which appears to "pop up" at regular intervals.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue