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  • BA and Virgin payout over price-fixing

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BA and Virgin payout over price-fixing

British Airways and Virgin Atlantic are reportedly set to pay out £101 million in compensation to passengers over fuel price-fixing.The US class action lawsuit settlement is believed to have been reached provisionally on Thursday night.The airlines are said to have inflated fuel charges on long-haul flights between August 2004 and January 2006 from £5 to £60.According to reports, the move will see BA pay £71 million, bringing its total payout to £338 million.British Airways was fined £121.5 million by the Office of Fair Trading (OFT) last year and a further £152 million by the US Department of Justice after it was found guilty of conspiring to fix fuel surcharges.Virgin is understood to be paying out £30 million in the settlement. It escaped financial punishment last year after the group came forward to expose the collusion.Last August, BA chief executive Willie Walsh said the company's provision of £350 million was sufficient to cover all fines related to its fuel-surcharge price fixing.© Independent Television News Limited 2008. All rights reserved.

ITN | February 15, 2008Watch more videos from ITN

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