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   Vol. 17 No. 14
Monday March 12, 2018

Jet, IndiGo & SpiceJet in Price Fix

  The Watchdog group, Competition Commission of India (CCI) has fined Jet Airways (India) Ltd., InterGlobe Aviation Limited (IndiGo) and SpiceJet Limited “for concerted action in fixing and revising Fuel Surcharge (FSC) as a component of freight charges.”
  CCI passed the final order on March 7, 2018.
  The CCI noted that the three carriers “acted in a concerted manner in fixing and revising the FSC rates and thereby contravened the provisions of Section 3 of the Act which prohibits anti- competitive agreements including cartels”.
  CCI levied a penalty of 398 million rupees ($6.13 million) on Jet Airways, 94.5 million rupees on InterGlobe and 51 million rupees on SpiceJet.
  “A cease and desist order was also issued against the three carriers.
  “While imposing penalties, the Commission applied the principle of relevant turnover and based the penalties on the revenue generated by the Airlines from air cargo transport services only,” CCI added.
  “Considering the financial position of Airlines at the relevant time and noting that FSC constitutes about 20-30% of cargo revenue, penalty was imposed by the Commission @ 3% of their average relevant turnover of the last three financial years,” CCI noted.
(More www.cci.gov.in)

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