Singapore Airlines fined $4m in NZ for price fixing
Published on Dec 21, 2012 9:47 AM
WELLINGTON (REUTERS) - Singapore Airlines (SIA) was fined NZ$4.1 million (S$4.16 million) by a New Zealand court for its part in a cargo price-fixing cartel over a period of nearly four years.
The New Zealand competition watchdog said SIA Cargo, a unit of Singapore Airlines, admitted liability for agreeing to fuel and security surcharges in Indonesia and Malaysia for cargo flown to the country.
"Price fixing is unlawful, and the fines imposed in the air cargo case should be a deterrent to others who might breach the Commerce Act," Commerce Commission chair Mark Berry said in a statement.
SIA Cargo is the seventh airline to settle with the Commerce Commission in the long-running air cargo cartel case, bringing total penalties ordered in the case to NZ$25.5 million.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here