Updated By: LatestGKGS Desk
CCI Imposes Fine of Rs 54 Crore on Jet Airways, SpiceJet And InterGlobe Aviation
CCI Imposes Fine of Rs 54 Crore on Jet Airways, SpiceJet and InterGlobe Aviation Companies
The Competition Commission of India (CCI) imposed a fine of over Rs. 54 crores on Jet Airways, SpiceJet and InterGlobe Aviation companies on 7th March 2018.
The CCI imposed the fine over unfair business practices and alleged cartelisation with respect to fixing and revising fuel surcharge (FSC) on cargo transport.
The CCI made this decision due to a complaint lodged by Express Industry Council of India (EICI) against airlines alleging cartelisation.
The CCI has directed 3 airlines to cease and desist from anti-competitive practices. It is the second order on the same complaint in nearly three years.
All these 3 airlines had acted in a concerted manner in fixing and revising FSC rates in violation of competition norms that prohibit anti-competitive agreements, including cartels.
The Jet Airways was fined Rs 39.81 crore, InterGlobe Aviation (IndiGo) with Rs 9.45 crore and SpiceJet with Rs 5.1 crore.
