Lagos, Nigeria (PANA) - A judicial appeal panel has set aside the US$235 million fines slammed on two British Airlines for allegedly colluding to fix prices and engage in other unethical practices.
The regulatory Nigerian Civil Aviation Authority (NCAA), which imposed the fines, set up the appeal panel after British Airways and Virgin Atlantic objected to the sanctions.
The five-member panel, headed by a retired Justice of the Supreme Court of Nigeria, Justice George Oguntade, said though the allegations against the airlines were established by the panel, it could not uphold the fines and sanctions ''because the violations by the airlines occurred
between August 2004 and March 2006 whilst the provisions of the NCAA Act of 2009 at that time prescribed cease and desist order''.
-0- PANA SEG 10Feb2012