EC fines airlines for 'price fixing meetings'

The European Commission has fined 11 airlines almost 800m euros (£690m; $1.1bn) for fixing the price of air cargo between 1999 and 2006.

The carriers include British Airways, Air France and Japan Airlines. They have been accused of running a cartel.

The European Competition Commissioner, Joaquín Almunia announced the fine at a news briefing in Brussels.