Airline admits to cartel, fined $4.1m

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

Relevant offers

Industries

NZ dollar sinks on RBNZ rate cut prospect South Island companies growing well, Deloitte McDonald's trials DIY burgers with 'Create your Taste' Daring to manage demand with meters Auckland Airport buys second hovercraft Christchurch City Council opposes deep-sea oil drilling FMA looking at VMob 'chain of events' Reserve Bank opens door to possible rate cut Matamata company upholsters billionaire's limo boat Plan to solve skills shortfall backed

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.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content