Virgin knew of price fixing

City A.M. Reporter
VIRGIN ATLANTIC chief executive Steve Ridgway admitted yesterday he was aware his airline had conspired to fix the price of fuel surcharges between July 2004 and April 2006 with rival British Airways (BA).<br /><br />Ridgway said in a statement: &ldquo;Although I did not have any direct contact with BA in relation to passenger fuel surcharges I regret that, on becoming aware of the discussions, I did not take steps to stop them.&rdquo;<br /><br />Ridgway&rsquo;s statement were made separately from a preliminary hearing at Southwark Crown Court yesterday at which three former BA executives and one current director pleaded not guilty to price-fixing offences.<br /><br />Virgin blew the whistle on the agreement three years ago and both the airline and its executives were granted immunity from prosecution.<br /><br />BA was fined over &pound;121.5m by the Office of Fair Trading.