Cathay agrees deferral of HK cargo terminal
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Cathay Pacific Services Limited (CPSL), a wholly-owned subsidiary of Cathay Pacific Airways Limited, had signed an agreement with the Hong Kong Airport Authority (HKAA) to defer the completion of its new cargo terminal by a maximum of 24 months to mid-2013. A CPSL spokesperson said that the decision to apply for the deferral was taken in response to market conditions brought about by the global economic slowdown. He added that CPSL will compensate the HKAA for the deferral, without disclosing any figures.
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