On behalf of the team

On 8 June 2021, various airlines went to court to reclaim interest on the fine they had wrongly paid. In 2010, the European Commission (EC) had imposed a fine on them for mutually discussing their prices, but this fine was reversed by the court in 2015.[1]

As the fine involved was €790 million, the interest will also be considerable. The steps reportedly taken by the airlines to recover this interest are in response to a ruling by the European Court of Justice in January 2021 that interest on wrongly paid fines must also be repaid.

[1] According to Mlex, ‘Cathay Pacific, SAS, Air Canada go to EU court over interest on annulled cargo-cartel fines’, 8 June 2021.