Flight Centre has been slapped with a US$12.5 million dollar fine for attempting to fix pricing with international airlines between 2005 and 2009.
The Full Federal Court of Australia handed down the penalty on the morning of Wednesday, April 11, following a successful high court appeal by the Australian Consumer and Competition Commission (ACCC) against an earlier court decision in 2016.
The decision is the latest turning point in a six-year between the competition watchdog and Flight Centre, which has shown the travel agent lose an initial court case before winning an appeal and then subsequently losing another ACCC appeal to the High Court.
The ACCC alleged that Flight Centre sought to enter into price fixing arrangements with three airlines where they would agree not to offer airfares on their own website that were cheaper than those offered by Flight Centre.
Flight Centre is now considering whether there are legal grounds to seek leave for another appeal against Wednesday’s judgement.
“This was a complex test case as evidenced by the contrasting judgements during the past six years,” Flight Centre managing director Graham Turner said in an ASX release on Wednesday.
Full Content: The Australian
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI