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The Australian Competition and Consumer Commission case against Flight Centre Limited (ASX:FLT) will commence today in a Brisbane Federal Court and is expected to run for three weeks.
The competition regulator alleges the travel agency group colluded with three airlines to set ticket prices and keep its commissions artificially high.
New price fixing laws were introduced in 2010. Flight Centre could face a fine of up to $10 million or 10 per cent of its total revenues for each offence. Flight Centre has denied the allegations.
In the 2012 financial year Flight Centre generated a net profit of $200 million.
News: Flight Centre action starts
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Last
$17.51 |
Change
0.120(0.69%) |
Mkt cap ! $4.754B | |||
| Open | High | Low | Value | Volume |
| $17.48 | $17.62 | $17.31 | $12.57M | 718.7K |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 8551 | $17.51 |
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| Price($) | Vol. | No. |
|---|---|---|
| $17.52 | 38 | 1 |
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| FLT (ASX) Chart |
