Business news for Mon, 24 Dec 2007 & with words airways+prices. 8 news.

CATHAY Pacific Airways Ltd said yesterday it had received a formal letter of complaint from European Union regulators investigating allegations of price fixing in the air cargo business. The EU and the United States have been investigating more than a dozen airlines since at least early 2006 to discover if there was collusion in the air cargo industry to fix prices on surcharges for fuel, security and insurance. The European Commission said on Friday it had sent out Statements of Objections to a number of airlines, but did not name them. British Airways, Air France-KLM, and Scandinavian airline operator SAS Group later confirmed they had each received a letter. Cathay said it was reviewing the letter with its legal counsel and would make a "timely response" to the objections. "It is a lengthy and complex document, and only sets out the (regulator's) preliminary findings resulting from its investigation into the air cargo sector of the aviation industry. The

Maxjet Airways Inc., facing financial losses because of rising fuel prices, has ceased operations and is filing for federal bankruptcy protection. (CAL)

Maxjet Airways said on Monday that it had filed for bankruptcy protection, taking what the all-business class airline called a “drastic measure” because of soaring fuel prices and the deteriorating credit market. The bankruptcy forced Maxjet to reserve hotel rooms for stranded holiday passengers who had booked return flights between New York and London. The carrier, [...]

Maxjet Airways Inc., facing financial losses because of rising fuel prices, has ceased operations and is filing for federal bankruptcy protection. (CAL)

SAN FRANCISCO (MarketWatch) -- Airline stocks took an early turn into positive territory Monday, led by 3% gains for American Airlines parent AMR Corp. and US Airways Group . The Amex Airlines Index was ahead 1.5% in early trades at 37.04 points, drawing strength from lower fuel prices to outpace a 0.6% rise in the broader equities market. Volume is likely to be light in the shortened pre-holiday session, which wraps it all up ahead of Christmas at 1 p.m. Eastern Time.

MAXjet Airways said Monday it had filed for bankruptcy, taking what the all-business class airline called a "drastic measure" because of soaring fuel prices and the deteriorating credit market.

United Airlines' West Coast stronghold is under assault by low-price competitors, putting pressure on fares at a time when United desperately needs to raise prices to offset fuel costs. This year Virgin America, JetBlue Airways Corp. and Southwest Airlines Co. have launched service at San ...