A report on International Air Transport Association and Cartel
IATA has been described as a cartel since, in addition to setting technical standards for airlines, IATA also organized tariff conferences that served as a forum for price fixing.
- International Air Transport AssociationOPEC countries partially control the price of oil, and the International Air Transport Association (IATA) fixes prices for international airline tickets while the organization is excepted from antitrust law.
- Cartel1 related topic with Alpha
Price fixing
0 linksAnticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.
Anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.
When the agreement to control price is sanctioned by a multilateral treaty or is entered by sovereign nations as opposed to individual firms, the cartel may be protected from lawsuits and criminal antitrust prosecution.
International airline tickets have their prices fixed by agreement with the IATA, a practice for which there is a specific exemption in antitrust law.