AirAsia and MAS win appeal against MyCC fine

KUALA LUMPUR: AirAsia Bhd and Malaysian Airline System Bhd (MAS) has won the appeal against the Malaysia Competition Commission's (MyCC) fine of RM10 million each, on the airlines.
In delivering the verdict for the appeal today, High Court Justice Hasnah Mohamed Hashim said the five-member Competition Appeal Tribunal panel unanimously agreed to set aside the fine against both airlines.
On April 11, 2014, MyCC found both airlines guilty of anti-competitive practices under Section 4(2)(b) of the Competition Act 2010, by entering into a share-swap agreement in 2011, which was subsequently called off by Khazanah Nasional Bhd in 2012.
MyCC slapped a fine of RM10 million each on both airlines. Both airlines appealed against MyCC's findings and fine.