Kansai Airport Co reports positive group net profit

Japan's Kansai International Airport Co reported a group net profit of USD1.6 million on cost cuts and increased duty free sales in the financial year ended Mar-2010 (Kyodo News, 20-May-2010). A group net loss of USD75 million was reported in the previous year. The company reduced its interest-bearing debt to USD11.7 billion from USD12.5 billion by using proceeds from the sale of its airport island and a bridge to the government for repaying loans and redeeming debt securities.