Malaysian Airline System Berhad: General Announcement
10-Nov-2010 Reference No MA-101110-55838
Company Name: MALAYSIAN AIRLINE SYSTEM BERHAD
Stock Name: MAS
Date Announced: 10/11/2010
Type: Announcement
Subject:
EUROPEAN COMMISSION AIR FREIGHT DECISION
Contents:
Malaysian Airline System Berhad ("MAS") is pleased to announce that on 9 November 2010 the European Commission terminated proceedings against MAS and Malaysia Airlines Cargo Sdn. Bhd. ("MASkargo") in relation to its air freight investigation under Article 101 of the European Union ("EU") Treaty. Neither MAS nor MASkargo has been found to have infringed European competition laws. As a result, neither MAS nor MASkargo has been fined by the European Commission. The European Commission has imposed substantial fines totaling EUR799 million on many other airlines.
The European Commission has been conducting its investigation into air freight since February 2006. As announced to Bursa Malaysia on 27 December 2007, MAS and MASkargo received a Statement of Objections in December 2007, to which MAS replied in March 2008.
MAS and its group companies have a policy of compliance with all applicable laws, including competition laws, in their countries of operation.