Airline admits to cartel, fined $4.1m

RICHARD MEADOWS
Last updated 05:00 22/12/2012

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A long-running legal action against air cargo price-fixing has claimed its seventh scalp, with Singapore Airlines Cargo ordered to pay a $4.1 million penalty.

Today's High Court judgment brings the total fines ordered in the cartel case to $25.48m.

Singapore Airlines Cargo admitted it had agreed on fuel and security surcharges in Indonesia and Malaysia for cargo heading to New Zealand over nearly four years. The company received a 20 per cent discount to the penalty for admitting its guilt.

The Commerce Commission previously reached settlements with British Airways PLC, Cargolux Airlines International SA, Emirates, Korean Air Lines, Qantas Airways and Japan Airlines International.

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- © Fairfax NZ News

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