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British Airways fined $300 million for price-fixing conspiracy

British Airways PLC was fined $300 million on Thursday after it pleaded guilty to a price- fixing conspiracy on international flights.

In an agreement with the U.S. authority, the British airline admitted that it colluding with rivals over the surcharge between mid-2004 and early 2006 to help ease the impact of sharp rises in oil prices. The US prosecutors said the airline could have faced fines closer to $900 million if it would not cooperate in the case. In a separate agreement with the British government earlier this month, British Airways also pleaded guilty and agreed to a $247 million fine. (people.com.cn)