newstodate.aero
Mar 16, 2010 (newstodate): SAS has no illusions about escaping a verdict on rates collaboration after the completion of the investigation involving seven airlines.
-It is the opinion of Group Management that SAS will probably be fined by the Commission, says the SAS Group in its annual report 2009.
-Taking the nature of the allegations into account, an adverse outcome is likely to have a substantial negative financial impact on SAS. However, it is impossible to quantify such a potential liability and for this reason, no provisions have been made in the SAS financial statements with respect to the European Commission investigation.
On February 14, 2006, the European Commission and the U.S. Department of Justice each announced investigations into possible price fixing in the airfreight industry.
SAS Cargo was one of several air cargo carriers involved in the investigations.
-It is the opinion of Group Management that SAS will probably be fined by the Commission, says the SAS Group in its annual report 2009.
-Taking the nature of the allegations into account, an adverse outcome is likely to have a substantial negative financial impact on SAS. However, it is impossible to quantify such a potential liability and for this reason, no provisions have been made in the SAS financial statements with respect to the European Commission investigation.
On February 14, 2006, the European Commission and the U.S. Department of Justice each announced investigations into possible price fixing in the airfreight industry.
SAS Cargo was one of several air cargo carriers involved in the investigations.