Ex-Asiana vice presidents indicted in US price fixing case

TWO ex-vice presidents of South Korea's Asiana Airlines have been indicted in the US on charges of conspiring to fix prices for economy class seats on US-South Korea flights.

Kang Joo Ahn and Kwak Chung Sik, each a former Asiana vice president of the Americas, face 10 years in prison and US$1 million fines, reported Bloomberg.

Sixteen airlines have pleaded guilty or agreed to plead guilty and four executives have been sentenced to prison, according to the statement. The probe is expanding to executives involved in setting passenger fares.
(Source:www.schednet.com)