Airline Companies Clarify After CCI Imposes Hefty Penalties

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Airline companies have clarified post the fines imposed by the Competition Commission of India (CCI).

    InterGlobe Aviation Ltd, on which a a penalty of Rs. 63.74 crores was levied by the CCI has said that it is studying the Order and will take legal steps to challenge the above order in the appropriate forum.

    Airline Companies Clarify After CCI Imposes Hefty Penalties
    Jet Airways India: Quotes, News
    BSE 236.70BSE Quote1.85 (0.78%)
    NSE 236.45NSE Quote1.6 (0.68%)
    Spicejet: Quotes, News
    BSE 77.35BSE Quote1.25 (1.62%)
    "The Company has been legally advised that it is not in contravention of the provisions of the Competition Act, 2002," the company has said.
     

    Jet Airways has also been imposed a fine of Rs 151.69 crores.

    "Jet Airways believes that it is not in contravention of the provisions of the Competition Act and it shall pursue all available legal steps to defend its position," the company said in a notice to the BSE.

    Spice Jet on the other hand has said that it is examining the order and shall be taking such steps, including challenging the order in appropriate forum as may be advised and deemed necessary to defend the Company's position.

    Shares of all the three companies, which had fallen sharply in trade post the order, saw some recovery.

    GoodReturns.in

    Story first published: Wednesday, November 18, 2015, 13:09 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more