FTP shows way in cost cutting for global carriers

A new bonded maintenance model at Hainan Free Trade Port is cutting costs and red tape for international airlines, positioning the island province as a rising hub for aircraft repair in the Asia-Pacific region.

Dubbed a "duty-free shop" for plane repairs, the initiative offers tax exemptions on imported parts, and waives import guarantees and streamlines Customs clearance.

Local officials said the incentives can slash airline maintenance expenses by 10 to 15 percent.