Compat sets aside Rs 258-crore fine on Jet Airways, IndiGo, SpiceJet

The Competition Appellate Tribunal (Compat) stayed penalties totalling Rs 256 crore imposed by Competition Commission of India (CCI) on Jet Airways, IndiGo and SpiceJet for fuel surcharge collusion.

The competition watchdog had in November last year imposed penalties to the tune of Rs 151 crore on Jet Airways, Rs 63 crore on IndiGo and Rs 42 crore on Spice Jet, finding the airlines guilty of colluding in fixing of fuel surcharge for cargo transportation. The matter has been sent back to the CCI on technical grounds and COMPAT has given the airlines one more chance to defend themselves before the final order is passed.

In its order, the CCI had said that conduct of these companies undermined economic development of the country and was detrimental to consumers’ interest. The CCI had acted in a matter which was filed by Express Industry Council of India under the Competition Act against Jet Airways, InterGlobe Aviation, Spice Jet, Air India and Go Airlines alleging anti-competitive agreements.

Extra info:
Competition Commission of India (CCI)
Naresh Goyal – the founder Chairman of Jet Airways

So lets do:
Who is the founder Chairman of Jet Airways?

Source – The Economic Times


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