Singapore Pays $3.4M To Exit NZ Air Cargo Rate-Fixing Probe

Law360, New York (December 21, 2012, 2:04 PM EST) -- A New Zealand court on Friday signed off on a NZ$4.1 million (US$3.4 million) settlement that Singapore Airlines Cargo PTE reached with the country's competition watchdog for fixing rates on air cargo surcharges.

Singapore Airlines' SIA Cargo subsidiary agreed to the Commerce Commission's fine after admitting that it conspired with fellow airlines to set fuel and security surcharges in Indonesia and Malaysia for cargo flown to New Zealand in the early 2000s.

The company is the seventh airline to admit liability in New Zealand's long-running probe...
To view the full article, register now.