SINGAPORE: Singapore Airlines (SIA) announced that its cargo arm may make a financial provision of S$111.8m for FY17 as a result of a EUR74.8m (S$113m) fine imposed by the European Commission (EC).
After having this 2010 decision voided by Europe’s second highest court in 2015 due to a procedural error, the EC last Friday re-imposed a total of EUR776m (S$1.2b) penalties on SIA and 10 other airlines for an air cargo cartel that happened more than 10 years ago.
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