CCI slaps Rs 1 cr fine on Etihad in Jet Airways deal

Keeping in view the facts and circumstances, the Commission said it was imposing a penalty of Rs 1 crore on Etihad, which according to the regulator had the obligation to give notice to it regarding the deal.

Etihad is required to pay the fine within 60 days. The regulator said the parties made disclosure of all the agreements entered into between them, including LHR transaction and CCA (Commercial Cooperation Agreement).

Noting that it is apparent that there was no effort by the parties to conceal the transactions, the CCI observed that contention of the parties is that they were under an impression that LHR was an independent transaction.

“This contention has not found favour with this Commission but the fact remains that the party was under an impression, though wrongly, that LHR transaction was an independent transaction and the party consummated LHR transaction,” the order said.

The airlines sought CCI nod for the Rs 2,060-crore deal on May 1.