UK markets closed
  • FTSE 100

    7,765.15
    +4.04 (+0.05%)
     
  • FTSE 250

    20,035.39
    +119.89 (+0.60%)
     
  • AIM

    869.24
    +3.83 (+0.44%)
     
  • GBP/EUR

    1.1403
    +0.0014 (+0.12%)
     
  • GBP/USD

    1.2391
    -0.0016 (-0.13%)
     
  • BTC-GBP

    19,201.97
    +555.05 (+2.98%)
     
  • CMC Crypto 200

    526.66
    +9.65 (+1.87%)
     
  • S&P 500

    4,070.56
    +10.13 (+0.25%)
     
  • DOW

    33,978.08
    +28.68 (+0.08%)
     
  • CRUDE OIL

    79.38
    -0.30 (-0.38%)
     
  • GOLD FUTURES

    1,927.60
    -1.80 (-0.09%)
     
  • NIKKEI 225

    27,382.56
    +19.76 (+0.07%)
     
  • HANG SENG

    22,688.90
    +122.10 (+0.54%)
     
  • DAX

    15,150.03
    +17.23 (+0.11%)
     
  • CAC 40

    7,097.21
    +1.22 (+0.02%)
     

Britain warns its airports over competition law after tip-off

Passengers queue for check in outside Terminal 1 at Manchester Airport

LONDON (Reuters) - Britain's competition and aviation regulators have warned airports not to share confidential information and breach competition law, following a tip off that they were doing so.

The Competition and Markets Authority and the Civil Aviation Authority on Thursday publicly shared a letter sent to airport operators after receiving intelligence about information sharing. It did not name the operators.

The regulators said that despite the extraordinary pressures faced by airports during the pandemic, there was no excuse for violations, and that operators must check all staff were properly trained to ensure they did not breach rules.

Any concerns over price-fixing or market-sharing arrangements should be reported to the CMA, the letter urged, warning that the consequences for breaches include fines of up to 10% of a company's worldwide turnover and criminal prosecutions.

"Please take the time to review your practices and ensure that you and your employees are complying with competition law," the letter said.

(Reporting by Sarah Young, Editing by Paul Sandle)