When did BA and Virgin collude?

When did BA and Virgin collude?

BA and Virgin admitted colluding over fuel surcharges on long-haul flights between August 2004 and March 2006. The charges, in response to rising oil prices, increased from £5 to £60 per ticket for a typical BA or Virgin longhaul return flight over that period.

Does Virgin price match ba?

1. Re: Virgin airlines – do they price match? No, they offer you a price, you accept or decline it. They do not haggle.

Is Virgin or BA better?

However, if it does come down to making a choice, Virgin Atlantic does offer a more compelling seat and service offering on its aircraft. British Airways, in turn, is a larger carrier with more destinations and connections to choose from. Either way, it is a tough choice!

What is tacit collusion in economics?

Tacit collusion (or price leadership) happen when other businesses usually accept price changes established by a dominant firm and which other firms then follow.

Will Virgin match my BA status?

In order to match your status to either Flying Club Gold or Silver status, you’ll need to submit proof that you have current top tier or second tier status on another airline, and already have a revenue (i.e. cash fare) flight booked with the Virgin Atlantic in any cabin for Silver, and in Premium or Upper Class only …

Can a holiday company change the price after purchase?

Under package holiday regulations, companies are allowed to hike prices after a customer has booked if they warn they may do so in their terms and conditions, and if the increase is to offset changes to exchange rates, fuel costs, taxes or fees.

Is premium economy better on Virgin or BA?

This comparison between BA and Virgin is only for guidance, especially as the exact specification will vary by aircraft type. In general, following recent improvements by British Airways, both airlines now offer comparable premium economy products although Virgin Atlantic retains a slight edge.

What are the 3 types of collusion?

Types of collusion

• Formal collusion – when firms make formal agreement to stick to high prices. This can involve the creation of a cartel.
• Tacit collusion – where firms make informal agreements or collude without actually speaking to their rivals.
• Price leadership.

What is the difference between explicit and tacit collusion?

Tacit collusion can involve price wars on the equilibrium path. Explicit collusion involves firms secretly sharing their private information to avoid such price wars, but this is illegal and runs the risk of sanctions.

Does Virgin Silver get lounge access?

If a Silver member holds a Virgin Australia lounge membership, they can use both lounge passes for accompanying guests. Guests must always be accompanied by the Silver member and must be travelling on the same day.

How do I get gold status on Virgin Atlantic?

To stay as a Silver member, you’ll need to earn at least 400* Tier Points a year, and to remain Gold you’ll need to earn at least 1,000** Tier Points a year. If you’re a Red member, no need to worry. Your membership won’t expire as long as you earn or spend Virgin Points within three years.

Why is my holiday cheaper now than when I booked?

Once you’ve booked your holiday, the amount you pay is frozen. So if the cost goes down, you won’t get a refund on the difference. On the other hand, if prices go up, you won’t pay a penny more either.

Is it more expensive to book a holiday through a travel agent?

Travel agents can be just as cheap as online deals. Travel agents are closing branches as more people head online to book their holidays. However, our research has found that visiting a high street travel agent can be just as cheap.

Is price-fixing a type of collusion?

Collusion occurs when entities or individuals work together to influence a market or pricing for their own advantage. Acts of collusion include price fixing, synchronized advertising, and sharing insider information.

What is an example of tacit collusion?

Tacit collusion is unspoken actions between oligopolistic firms that are likely to minimise a competitive response. For example, two firms may decide to avoid price cutting or not attacking each other’s market share.

Which of the following is an example of implicit collusion?

Implicit collusion happens when a group of firms manipulate the marketplace through interdependent actions, but without coming to a formal agreement. Price leadership, a practice where one firm sets the price for a good and other firms simply follow suit, is a classic example of implicit collusion in business.