British Airways will pay a fine of £121.5 million (US$246.8 million) to the U.K. Office of Fair Trading following an agreement relating to "anti-competitive activity

in the company's long-haul passenger and cargo businesses." BA also will pay a fine to the U.S. Department of Justice. BA made note of several conversations between it and Virgin Atlantic Airways, from August 2004 to January 2006, regarding plans to raise and lower passenger fuel surcharges. BA added that Virgin in 2006 informed OFT of such conservations, and consequently "qualified for conditional immunity and as a result has not been required to pay any penalty."