US, EU investigators probing airlines across the globe

02/15/06 - newratings.com

NEW YORK, February 15 (newratings.com) – US and EU (European Union) investigators Tuesday launched a probe into alleged price fixing by air cargo carriers across the world.

The premises of several major airlines, including British Airways, Lufthansa, SAS, American Airlines and United Airlines, were searched on Tuesday as part of the probe. Several other airlines were being questioned. The search was extended to Asia-based airlines, including Japanese Airlines, Hong Kong-based Cathay Pacific and Korea’s Korean Air and Asiana on Wednesday. Officials are investigating whether the various airlines joined hands to fix prices and limit competition in recent years.