Compat sets aside Rs 258-crore fine on Jet Airways, IndiGo, SpiceJet
Posted on:20 Apr 2016 14:31:51
20 April 2016 Current Affairs GK: The Competition Appellate Tribunal (Compat) on stayed penalties totalling Rs 256 crore imposed by Competition Commission of India (CCI) on Jet Airways, IndiGo and SpiceJet for fuel surcharge collusion. The competition watchdog had in November last year imposed penalties to the tune of Rs 151 crore on Jet Airways, Rs 63 crore on IndiGo and Rs 42 crore on Spice Jet, finding the airlines guilty of colluding in fixing of fuel surcharge for cargo transportation.
In its order, the CCI had conduct of these companies undermined economic development of the country and was detrimental to consumers' interest. The CCI had acted in a matter which was filed by Express Industry Council of India under the Competition Act against Jet Airways, InterGlobe Aviation, Spice Jet, Air India and Go Airlines alleging anti-competitive agreements.
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