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.