Hong Kong's Airport Authority has launched a HKD450m (USD58m) relief package 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 HKD200m (USD25m) worth of reductions in charges and HKD250m (USD32m) interest-free, deferred payments.
Airlines operating at the airport are being offered a 10% reduction in both landing and parking charges until the end of 2009.
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 2010 onward.
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