SIA: to pay US$48m fine to the US court, for its role in a conspiracy to fix air-cargo prices within the industry. In total, 20 airlines and 17 executives have been charged, and more than US$1.7b in fines have been levied.
This event is separate from the €74.8m fine imposed by EU regulators on SIA, also for its role in air-cargo price fixing, back in early Oct. SIA said it would appeal against the EU fine…
The US fine is likely one-off, and would impact EPS by ~5.2cts, not significant in our view.
The majority of Street has Buy ratings on the stock. Recent targets range btwn $16.34-20.00
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