The operating environment was generally positive in the first half of 2015. Passenger and cargo demand was generally strong. We reduced our operating costs due to lower fuel prices, partially offset by fuel hedging losses. We continued to manage non-fuel costs effectively. But yield remained under pressure. We continued to develop our networks, modernize our fleet and improve our products and services. We continued to invest for long-term success and to strengthen Hong Kong’s position as one of the world’s leading aviation hubs.