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Airline Companies Clarify After CCI Imposes Hefty Penalties

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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
"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]
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