Asiana fined for overpricing
Korean airline Asiana has been hit with a fine of KRW12.1 billion (about $8.7 million) for violating the terms of its merger with Korean Air.
It breached the upper limit on airfare increases, the Fair Trade Commission (FTC) said.
The FTC said Asiana sold tickets on several routes with price hikes of up to 28.2%.
The FTC allowed only for increases at the rate of inflation for 10 years.
“This was one of the key preconditions for our approval of the airlines’ merger, but Asiana violated it in the first year,” a FTC spokesperon said.
Asiana Airlines sold the higher price tickets on four routes including to Barcelona, Frankfurt and Rome.
It impacted around 20,000 customers.
Asiana Airlines said it has taken steps to rectify its pricing .
It will also compensate these customers with credit vouchers.
It represents the largest ever fine imposed for violating conditions of an agreed merger.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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