Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
March 19, Monday 2018 4:21 PM       

       HEADLINES: Non-priority ration cards to receive rice at subsidised rate                                              60-year old woman found hacked to death                                              There’s discrepancy in complaint filed with minister against me: Sabarinathan MLA                                              India-WI ODI shifted from Greenfield to Kochi                                              Railway track broken, Happa Express saved                                              Raj Thackeray calls for 'Modi-mukt Bharat' by 2019                                              Nirav Modi's assets seized by ED                                              LS, RS disrupted, protests continue                                              Putin wins another six years at Russia's helm in landslide victory                                              Russia dismisses ex-spy poisoning claims as 'nonsense'                                              PyeongChang Paralympics to conclude Sunday                                              Nidahas Trophy: Upbeat India to take on B'desh in final                                              Nidahas Trophy: Rahman helps B’desh post 166/8 against India                                              Aussies beat Indian eves by 97 runs to clean sweep series                                              Roger Federer makes it to Indian Wells finals                                              Kaumudi Facebook
       BUSINESS Next Article: Falcon 8X to make first appearance at Wings India  
       CCI penalises airlines for fixing, revising cargo fuel surcharge
         Posted on :01:06:52 Mar 8, 2018
       Last edited on:01:06:52 Mar 8, 2018
         Tags: CCI penalises airlines for fixing, revising c
New Delhi: The Competition Commission of India (CCI) imposed penalties upon three airlines for concerted action in fixing and revising fuel surcharge (FSC) - a component of freight charges.
The order was passed based on information filed by Express Industry Council of India against Jet Airways (India) Ltd., InterGlobe Aviation Limited, Spice Jet Limited, Air India Limited and Go Airlines (India) Limited alleging cartelisation.
The CCI, in its order, noted that the aforementioned Airlines had acted in a concerted manner in fixing and revising the FSC rates and thereby contravened the provisions of Section 3 of the Act, which prohibits anti-competitive agreements including cartels.
Accordingly, penalties of Rs. 39.81 crore, Rs. 9.45 crore and Rs. 5.10 crore were imposed upon Jet Airways (India) Ltd., InterGlobe Aviation Limited and Spice Jet Limited respectively. Besides, a cease and desist order was also issued against the Airlines.
While imposing penalties, the Commission applied the principle of relevant turnover and based the penalties on the revenue generated by the Airlines from air cargo transport services only.
Considering the financial position of the Airlines at the relevant time and noting that FSC constitutes about 20-30 percent of cargo revenue, penalty was imposed by the Commission at three percent of their average relevant turnover of the last three financial years.
The CCI also deprecated the airlines for using FSC as a pricing tool which was essentially introduced to mitigate the fuel price volatility.
Next Article: Falcon 8X to make first appearance at Wings India
Sensex, Nifty turn choppy; metal stocks fall  
India lacks flexing power despite high imports: ASSOCHAM  
Demonetised notes are being shredded, briquetted: RBI  
Delhi holds first exhibition of International Jewellery Brand Chemmanur's Diamonds Collection  
RBI issues corrective framework for PSBs  
Verka exhibits its product range at Krishi Unnati Mela 2018  
Sensex dives 510 pts on political concerns; extends losses for 4th day  
Sebi slaps Rs 12 L fine on merchant banker in Onelife Capital IPO case  
Now there is a marketplace to buy and sell pre-owned taxis in India  
Tata group Chief Ethics Officer Mukund Rajan quits  
Gold softens on muted demand, global cues  
Wholesale inflation eases to 2.48% in Feb'18  
Sensex down 150 pts, Nifty slips below 10,400  
SBI reduces charges on non-maintenance of minimum balance  
Regulations should not impact pace of innovation: Google  
No Nirav Modi firm in the list of 2.26 lakh deregistered cos: Govt  
Paytm to be official umpire partner for IPL 2018  
Sensex zooms the most in two yrs, Nifty above 10,400 on global relief rally  
Sensex rallies 301 pts ahead of IIP, inflation data  
Nirmala Sitharaman invites private sector in Defence  
Alstom completes all-electric ‘Make in India’ locomotive, announces €75 million contract  
Limit collateral damage from bank frauds: ASSOCHAM  
Handy tips for women before joining a new job  
Nearly 17cr Aadhaar cards linked with PAN: Centre  
GST Council likely to simplify tax returns  
Do you think controversies are now being used as business tools?
don't opinion
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy