BA executives face price-fixing charges: report

LONDON (Reuters) - Four past and present British Airways (BAY.L: Quote, Profile, Research, Stock Buzz) executives will be charged with fixing the price of passenger fuel surcharges on transatlantic flights, the Financial Times reported on Saturday.

In an unsourced report, the newspaper said the case was being brought by the Office of Fair Trading (OFT) against the four men, who face the threat of up to five years in jail.

British Airways' rival Virgin Atlantic VA.UL blew the whistle on BA in 2006 after individuals at the two carriers discussed proposed changes to fuel surcharges, introduced to help airlines cope with rising cost of jet fuel.

Precise charges are due to be announced within weeks, the newspaper said.

British competition law makes tipping off a rival about price changes illegal and bans firms from agreeing prices.

Fuel surcharges soared from 5 pounds to 60 pounds per ticket on typical BA or Virgin long return flights between 2004 and 2006. British Airways has defended the rises, which came as crude oil prices surged.

In February British Airways and Virgin Atlantic agreed together to pay about $203 million to settle a lawsuit brought by passengers over the surcharge fixing. Last year BA agreed to pay roughly $247 million in a settlement with British authorities.