SAS Cargo fined for price-fixing

Scandinavian airline SAS Cargo and another 11 airlines will be fined over a billion US dollars for co-operating on air freight prices, the European Commission announced on Tuesday evening.

In a press release, SAS says it will appeal the decision. The company's chief legal officer Mats Lönnkvist added that the company contests the size of the fine "which we believe to be disproportionate to SAS Cargo's actions"

But such an appeal can take several years. The SAS share of the fine, of almost US$ 100 million, will be charged to the company earnings for the third quarter of 2010, which will be presented on Wednesday morning.