Air Canada said it may appeal a decision by the European Commission to fine it 21.03 million euros ($29 million) in a cargo price-fixing case.

Air Canada, one of a number of air cargo carriers fined a total of 799 million euros by European antitrust regulators, said the penalty is "more than adequately" covered by a C$125 million ($125 million) provision it made in 2008.

Depending on its review of the EC's decision, Canada's biggest airline said it may adjust the provision in its fourth-quarter results. (Reuters)