A record fine imposed on British Airways for colluding with rival Virgin Atlantic on fuel surcharges has been cut by more than half to £58.5 million.
The Office of Fair Trading (OFT) said the new penalty placed greater value on the level of BA's co-operation in the investigation into pricing on long-haul flights between August 2004 and January 2006.
In August 2007, the regulator fined BA £121.5 million after Virgin effectively blew the whistle on what had been going on between the two airlines. Under the OFT's leniency policy, Virgin was not fined.
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