SIA Cargo fined US$48m for price fixing
04 / 07 / 2011
SINGAPORE Airlines (SIA) Cargo has pleaded guilty to its role in conspiring to fix prices on cargo rates. The US has now fined the Asian carrier US$48 million.
According to court papers, SIA Cargo “and co-conspirators agreed during meetings, conversations, and other communications, on one or more components of the cargo, rates to be charged for shipments on certain routes to and from the US”, between February 2002 to February 2006.
In addition to the fine, the airline has also agreed to cooperate with the Department of Justice’s ongoing investigation into other airlines’ alleged cartel behaviour.