There are allegation that ISSTA unit Academy Travel is operating a cartel in the organization of youth delegations to Poland.
ISSTA Lines (TASE: ISTA) today reported to the Tel Aviv Stock Exchange (TASE) that the Antitrust Authority had conducted a search at ISSTA's Tel Aviv offices as part of its investigation, collecting documents and computer materials, and had questioned ISSTA officeholders. To the best of ISSTA's knowledge, the Antitrust Authority is investigating suspected antitrust and other violations.
At the beginning of the year, ISSTA reported that its Academy Travel subsidiary had obtained a request for a NIS 179 million class action filed with the court for allegedly operating a cartel in the organization of youth delegations to Poland.
ISSTA is a tourist agency for both overseas and internal tourism. The group is also active in income producing real estate. ISTTA has a number of subsidiaries, including ISSTA Israel, whose main activity is tourism and leisure in Israel and overseas.
Published by Globes [online], Israel business news - www.globes-online.com - on July 21, 2016
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Michal Halperin Photo: PR