SIA CARGO ARM PLEADS GUILTY TO PRICE FIXING

Dino D'Amore
By Dino D'Amore December 1, 2010 14:20

SIA CARGO ARM PLEADS GUILTY TO PRICE FIXING

Singapore Airlines Cargo has agreed to plead guilty to fixing prices on air-cargo shipments. The airline will pay a $48 million criminal fine.

The US Justice Department charged the airline of engaging in a conspiracy to fix prices from 2002 until at least February 2006 and filed the charge in a federal court. The cargo airline, a subsidiary of Singapore Airlines, apparently colluded with other air-cargo shippers to fix shipping rates, in violation of federal antitrust law.

Dino D'Amore
By Dino D'Amore December 1, 2010 14:20
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