Heathrow Airport has been imposed with a fine amounting to £1.6 million over limiting the competition for parking prices and infringing the competition law.
This afternoon, the Competition and Markets Authority (CMA), the competition regulator of the United Kingdom, said that the airport and the owner of Heathrow T5 Hotel Limited had infringed the competition law.
Competition and Markets Authority said that both Heathrow Airport and Arora Holdings had admitted to limiting the competition for parking prices and infringing competition law in September.
However, Heathrow said that the infringement decision dates back to a case that was filed against Heathrow Airport and Arora Holdings, the parent of Heathrow T5 Hotel, from 2005.
The company disclosed: “The CMA found that the Arora Group and the Company were parties to an anti-competitive agreement in 2005. This was historic and pre-dates our current management and shareholders. The matter relates to the price the Sofitel could charge for a very small proportion of the car parking offered at that hotel.”
It added: “We believe that the provision was never monitored or enforced and, as such, there would have been no impact on Heathrow’s customers or the Sofitel. However, we recognise that the Company and the Arora Group should not have agreed the provision back in 2005 and we accept the CMA’s settlement fine of £1.6m. We are strongly committed to ensuring compliance with all applicable laws and have taken appropriate steps to ensure that compliance is reinforced following the CMA’s decision.”
Heathrow is owned by Qatar Investment Authority, Ferrovial (FER.MC), China Investment Corporation and some other investors.