HK Airport Authority announces HK450 million to assist airlines
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The Hong Kong Airport Authority has announced a relief package of HK$450 million (US$ 58 million) to assist airlines and other operators whose business at Hong Kong International Airport has been adversely affected by the global economic downturn.
The relief package comprises HK200 million worth of reductions in charges and HK$250 million interest-free, deferred payment of charges.
Airlines operating at HKIA are being offered a 10% reduction in both landing and parking charges till the end of 2009, amounting to savings of about HK$200 million. Also, to alleviate cash flow issues during the recession, 50% of rental payments for airline lounges, office premises, counters and storage can be deferred for up to one year and repaid by interest-free installments from April 10 onwards.
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