The Competition Council penalized the airline Valan International Cargo Charter SRL, fining it over 127,000 lei for putting into practice economic concentration operations before obtaining the necessary authorization from the competition regulation authority, IPN reports.

According to a communique of the Competition Council, under the Competition Law, the economic concentration operations are subject to assessment and the Competition Council must be notified of these before they are carried out. The non-informing about these operations represents a violation.

The economic concentrations are operations performed by fusion or by taking over control over a legal entity.

The fine is to be transferred to the state budget.