Cathay fined US$3.34 million by Korea for price-fixing

HONG KONG's Cathay Pacific Airways has been fined KRW4.098 billion (US$3.34 million) by the Korean Fair Trade Commission (KFTC) for price-fixing in its air freight division, adding to a list of carriers who have already been fined by the Korean anti-competition authority.

"Cathay Pacific will review the KFTC's decision in detail with its legal counsel and explore the options available," the company said in a statement.

Korea's antitrust regulator has so far fined 19 airlines, including Japan Airlines, said Reuters.
(Source:www.schednet.com)