Friday, July 3, 2015

USA: airlines suspected of tariff agreement

USA: airlines suspected of tariff agreement
Several US companies are suspected of tariff agreement by the US Department of Justice, which announced Wednesday the opening of an investigation.


The judicial authorities announced on Wednesday an investigation into "a possible agreement" tariff between US airlines, reported the US Department of Justice. "We are investigating a possible agreement of some airlines" on rates, said the spokesman of the Ministry, Emily Pierce.

The ministry did not say the name of the companies concerned. But the announcement of this inquiry has still led to a fall of stock prices of United Airlines (-3.47%), American Airlines (-3.31%), Delta Airlines (-3.55%), Southwest Airlines (-3.02%) around 18h45 GMT, slightly before it resumed.

The news comes after a period of steady increase in air fares on domestic routes in the United States, despite a fall in fuel prices, a major cost airlines. Last year, ticket prices rose 2% despite a 50% drop in the price of crude, according to the US Department of Transportation.