Airline admits to cartel, fined $4.1m

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

Relevant offers

Industries

Spark's campaign for cheaper internet gathers support Oddfellows not going anywhere: Allen's Business confidence slips into the red - ANZ Business Outlook Benjamin Mugisho and Beatrice Faumuina captivate Kea Inspire audience Tiwai decision on Meridian Energy power contract too close to call Angry firms unable to protect images from NZ Small Business Assistance Centre Kathmandu investors warned to think carefully on Briscoes bid Kiwi dollar recovers despite looming Greek debt crisis Cricket World Cup earned Wellington $35m in visitors spending Wellington airport consumers $33m better off says Commerce Commission

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