Money Flight Centre cops $12.5m for price fixing

06:06  05 april  2018
06:06  05 april  2018 Source:   msn.com

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Flight Centre 's attempts to fix the value of tickets with three airlines so its " price beat guarantee" didn't reduce the company's profits has ended up costing it $ 12 . 5 million. Following a long-running legal battle with the Australian Competition and Consumer Commission

Flight Centre 's attempts to fix the value of tickets with three airlines so its " price beat guarantee" didn't reduce the company's profits has ended up costing it $ 12 . 5 million.

Video provided by ABC News

Flight Centre's attempts to fix the value of tickets with three airlines so its "price beat guarantee" didn't reduce the company's profits has ended up costing it $12.5 million.

Following a long-running legal battle with the Australian Competition and Consumer Commission, the company was on Wednesday fined over five breaches of the Trade Practices Act between 2005 and 2009.

It resulted from approaches Flight Centre made to Malaysia Airlines, Singapore Airlines and Emirates asking the airlines to commit to "allowing us a margin to operate", the Federal Court found.

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Flight Centre 's attempts to fix the value of tickets with three airlines so its " price beat guarantee" didn't reduce the company's profits has ended up costing it $ 12 . 5 million.

Flight Centre cops $ 12 . 5 million fine for price fixing squib. by The Sydney Morning Herald 47 days ago. Flight Centre attempted to fix the value of tickets with three airlines so its " price beat guarantee" didn't reduce the company's profits .

"The three airlines in question, on websites run by them, sold tickets directly to the public at a price lower than the fare published to travel agents, including Flight Centre," Justices James Allsop, Jennifer Davies and Michael Wigney said.

"This required Flight Centre, if it were to beat that price, to sell the ticket, on behalf of the airline, at a price which either reduced or eliminated its commission or margin."

Flight Centre complained about the airlines offering cheaper fares in a series of emails.

The Federal Court has issued a $12.5 million fine to Flight Centre following a long-running legal battle with the ACCC. © AAP Image The Federal Court has issued a $12.5 million fine to Flight Centre following a long-running legal battle with the ACCC. It indicated they wouldn't push tickets unless the airlines agreed not to undercut the company online.

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Federal Court fines Flight Centre for price - fixing . THE Federal Court has fined Flight Centre $ 12 . 5 million for price - fixing the costs of some international flights , with the CEO and senior managers involved in the breaches.

The Federal Court has issued a $ 12 . 5 million fine to Flight Centre following a long-running legal battle with the ACCC.

"I can assure you if this practice continues MH (Malaysia Airlines) will not be invited to participate in any future events," an email from March 2009 read.

"This situation is clearly now hurting our brand."

The case against Flight Centre focused on whether it and the airlines were in competition with each other in any market.

The ACCC won that argument and Flight Centre was initially fined $11 million for the breaches.

However, a series of appeals were then launched, with the matter going to the High Court.

It was referred to the Federal Court, where the $12.5 million penalty was imposed.

In the years in which the price-fixing attempts occurred, Flight Centre's revenue grew from $900 million to $1.7 billion.

Very senior management including the CEO and managing director of Flight Centre were involved in the breaches, which the Federal Court said elevated the seriousness of the attempts.

"The conduct involved here was said to be egregious," the justices said.

Wednesday's judgment draws the matter towards an end, with costs still to be decided.

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