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SAS, Airlines Said to Face European Union Fines in Cargo Price-Fixing Case

SAS Group, owner of Scandinavian Airlines, may be among airlines to be fined as soon as tomorrow by European Union regulators for their roles in a global cargo cartel, according to three people familiar with the matter.

Joaquin Almunia, the EU's antitrust chief, will announce the fines, said the people, who declined to be named because the discussions aren't public.

The possible ruling comes almost three years after regulators issued formal complaints to SAS,Air France-KLM Group, British Airways Plc and 23 others. It follows coordinated antitrust raids across the world that led to jail terms for some executives, fines and settlements. U.S. watchdogs investigating have already fined 18 airlines at least $1.6 billion and filed criminal charges against 14 executives for price-fixing.

For the full Bloomberg story, click here.

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