The Singapore flag carrier also said it will make a provision of about S$134 million ($103.8 million) arising from the European Commission's decision to impose a 74.8 million euro administrative fine on its cargo unit this financial year.
"Singapore Airlines Cargo strongly contests any suggestion that it has been involved in a global conspiracy to fix surcharges or rates," the Singapore flag carrier said in a statement.
"Singapore Airlines Cargo further contests any suggestion that the European Commission can apply EU law to conduct in markets outside the EU that was lawful in those countries and did not have direct or substantial effects in the EU," it added.
Air France-KLM, British Airways and nine other airlines were fined a total of 799 million euros ($1.11 billion) by EU regulators on Tuesday in a price-fixing case that could open the way for private claims against the companies.
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