COMPETITION LAW: ONLINE TRAVEL AGENTS AND AIRLINES 7 EU COMPETITION LAW According to the European Parliament8: “The main objective of the EU competition rules is to enable the proper functioning of the EU’s internal market as a key driver for the well-being of EU citizens, businesses and society as a whole. To this end, the Treaty on the Functioning of the European Union (TFEU) contains rules that aim to prevent restrictions on and distortions of competition in the internal market. More specifically, it does so by prohibiting anti- -competitive agreements between undertakings and abuse of market position by dominant undertakings, which could adversely affect trade between Member States...” This objective is achieved by way of a number of provisions. The anti- -competitive dangers inherent in mergers are dealt with by reference to the Merger Regulation Council Regulation (EC) No 139/2004 (‘the Merger Regulation) and its implementing rules (Commission Regulation (EC) No 802/2004). More importantly, in this context, Articles 101 to 109 of the Treaty on the Functioning of the European Union and Protocol 27 on the internal market and competition make it clear that a system of fair competition forms an integral part of the internal market, as set out in Article 3(3) of the Treaty on European Union. The fundamental objective of EU competition rules is to ensure the proper functioning of the internal market. Currently there is a debate taking place internationally as to the rationale underpinning competition law: whether it is desirable to allow commercial entities to compete freely in order to maximise their economic effectiveness, or in order to safeguard consumers’ ability to choose between providers. The EU’s policy statement suggests that the former is the more important of the two potential objectives, but that both are of significance: “Effective competition enables businesses to compete on equal terms across Member States, while putting them under pressure to strive continuously to offer the best possible products at the best possible prices for consumers. This in turn drives innovation and long-term economic growth. Competition policy is thuds a key instrument for achieving a free and dynamic internal market and promoting general economic welfare.” However, although this is the focus of policymakers in the European Parliament, the Court of Justice of the European Union has emphasised its remit 8 Competition policy | Fact Sheets on the European Union | European Parliament (europa.eu)
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