Singapore Airlines Cargo dismayed by FTC fine

Singapore Airlines Cargo is seriously considering mounting an appeal after the South Korean Fair Trade Commission (FTC) issued fines worth US$98 million to 19 airlines.

"The FTC found the airlines guilty of conspiring to introduce fuel surcharges for freight cargoes or continued to raise them over the past seven years. This is estimated to have resulted in the loss if $5 billion worth of sales in the South Korean market," said an Aircargo news report.

Singapore Airlines Cargo has released a statement saying they are "very disappointed" and "will study the decision closely with a serious view towards mounting an appeal" once they receive the Commission's full reasoning.

The said airlines include Korean Air Lines, Asiana Airlines, Air France, Cathay Pacific Airways, Japan Airlines International and Lufthansa.