Tuesday, March 27, 2012

SIA fined US$3.3m for price-fixing

JOHANNESBURG: Singapore Airlines and South African Airways have been fined several million dollars for price-fixing on routes between Johannesburg and Hong Kong, South Africa's anti-trust authority said.

Singapore Airlines was fined 25.1 million rands (US$3.3 million) and SAA 18.8 million rands (US$2.5 million), the Competition Commission said in a statement.

The settlement will also resolve a separate case against SAA, which was accused of collusion over domestic fares and international cargo charges during the 2010 football World Cup, it said.

"SAA has offered its full cooperation to the commission in its ongoing investigations and prosecution of both the matters," the statement said.

"Similarly, Singapore Airlines undertook to do the same with regards to the Far East matter."

The decision made no separate finding against South African Airways in the World Cup case but the fine will settle the matter, it added.

View the original article here

Source From Channel News Asia

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