Sweden's news in English

Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

SAS facing millions in EU fines: report

Share this article

SAS facing millions in EU fines: report
14:22 CET+01:00
Scandinavian airline SAS is set to be fined by the European Commission for its role in a global air cargo price-fixing cartel, according to media reports.

SAS Cargo, a subsidiary of SAS Group, one of twelve airlines involved in the case, must pay €70 million ($97.6 million) out of a total of €800 million in fines levied on the 12 airlines involved in the case, according to the French daily Le Monde.

Air France-KLM was ordered to pay €340 million while fines for British Airways came to around €104 million.

“This is speculation and unconfirmed information. We can't comment on speculations,” said SAS spokesperson Elisabeth Manzi to the TT news agency.

SAS plans to issue a press release as soon as the European Commission publishes its ruling, which is expected to come sometime on Tuesday.

The ruling follows a three year investigation launched after regulators complained that SAS, Air France-KLM Group, British Airways, and several other airlines had worked together to fix prices in the global air cargo market.

In 2008, SAS Cargo admitted to US authorities it has a role in forming a price-fixing cartel which violated US competition laws and paid a fine of $52 million.

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

How to work 9-5 and travel the rest of the time

A full-time job shouldn't stop you from satisfying your wanderlust. The Local spoke to Travel After 5 blogger Alline Waldhem to find out her tips and tricks for travellers who only have 25 days of annual leave.