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The Airport Authority has launched a $450 million 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 $200 million worth of reductions in charges and $250 million 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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