SINGAPORE (March 20): Singapore Airlines Cargo on Monday announced that it may make a provision of around S$111.8 million in the current financial year arising from an €74.8 million administrative fine imposed by the European Commission (EC).

The EC on March 17 re-adopted a decision in the EU air cargo competition law case involving SIA Cargo and 10 other cargo airlines.

In a filing to SGX, SIA Cargo says it will “study the grounds of the decision, after which it will consider an appropriate course of action”.

Shares of Singapore Airlines closed 1 Singapore cent lower at S$10.00 on Monday.