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The Competition Commission of India (CCI) has slapped a penalty of Rs 1 crore on Etihad Airways for implementing a commercial cooperation agreement and concluding a sale & leaseback deal with Jet Airways for its London (Heathrow) slots without approval.
The penalty was levied under Section 43 (A) of the Competition Act. This required a notice to CCI regarding the Heathrow transaction and the commercial pact. They concluded the deal without waiting for approval. Etihad has to pay the penalty in two months.
