British Airways is to be fined at least £121.5 million ($246 million) for participating in anti-competitive activity centred on fuel surcharges for long-haul passenger fares and the airline's cargo business. The fine is the result of a settlement with the UK's consumer protection agency, the Office of Fair Trading. But it is expected to be supplemented by a further financial penalty from the US Department of Justice today after BA entered a plea agreement with US authorities, who were also conducting an inquiry. BA says that the combined fine will be "consistent" with a provision of £350 million set aside earlier this year. The agreements will resolve both the UK and US investigations into the airline's passenger and cargo business. The anti-competition probe, opened last year, follows conversations between staff at British Airways and Virgin Atlantic Airways which included information on proposed changes to fuel surcharges on long-haul flights.