The European Commission and the U.S Justice Department raided a number of airlines on 14 February 2006 whilst investigating possible price fixing and other cartel abuses in the air cargo industry.
The offices of British Airways, Air France-KLM and Cathay Pacific were amongst those raided. The South Korean Fair Trade Commission also raided two airlines the following day.
It is understood that the investigation relates to fuel surcharges and other levies for cargo handling rather than passenger business.
Jonathon Todd, a European Commission spokesperson, stated that although there is an investigation it does not mean that "the companies are necessarily guilty of anti-competitive behaviour and it does not pre-judge the outcome of our investigations"
The US Department of Justice said it was also investigating possible anti-competitive practices in the air cargo industry, commenting that it is "co-ordinating with the EU and other foreign competition authorities."
The European Commission has not released details of those raided, however, a number of airlines, such as British Airways, have confirmed that they were under investigation or have received requests for information.
Although there have been numerous dawn raids and requests for information, the outcome of the investigation is unlikely to be known for some time yet.