SIA Cargo may make provision in current financial year due to fine

SINGAPORE Airlines (SIA) Cargo may make a financial provision of about S$111.8 million in its financial statements for the current financial year owing to a 74.8 million euro fine imposed by the European Commission.

This comes after the Commission last week re-adopted a decision in a European Union air cargo competition law case which involved 11 carriers, including SIA Cargo.

SIA Cargo said it will "study the grounds of the decision, after which it will consider an appropriate course of action".