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Wednesday, December 1, 2010

SIA accepts US$48m fine

WASHINGTON - SINGAPORE Airlines Cargo has agreed to pay a US$48 million (S$63.4 million) criminal fine for its role in a vast price fixing scam, the US Justice Department said on Tuesday.

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The airline has also pleaded guilty to fixing cargo rates on shipments to and from the United States between 2002 and 2006.

The airline is just the latest in a series of companies to admit guilt as a result of a wide-ranging US probe.

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