智通财经获悉，航空股早盘走高，截至发稿，东方航空(00670)涨4.73%，报3.1港元；南方航空(01055) 涨3.66%，报3.96港元；中国国航(00753)涨3.15%，报5.57港元；国泰航空(00293)涨0.65%，报10.79港 元。 国泰海通证券指出，暑运客流客座率维持高位，扣油票价继续持平，暑运大额盈利可期。该行指出，近 期中国民航局部署综合整治"内卷式"竞争，预计短期将减少过度低价；中期或政策引导收益管理改善； 长期将保障机队规划继续低增。提示短期需求波动不改长逻辑，关注公商务需求恢复与反内卷，建议逆 向布局。 本文源自智通财经网 消息面上，中国航空运输协会正式发布《中国航空运输协会航空客运自律公约》。公约重点提出，加强 行业自律，维护市场秩序，强化反垄断和反不正当竞争措施。倡导各企业严格遵守价格法、反不正当竞 争法等相关法律规定，杜绝以排挤竞争对手为目的的恶意竞争行为，包括低价倾销、虚假宣传等。自律 条款同时还提出，对航空销售网络平台以及销售代理人执行的航司票价、退改签规则等，中航协要加强 监督管理，严禁违规捆绑销售、价外加价。 ...

Group 1 - Airline stocks rose in early trading, with Eastern Airlines up 4.73% at HKD 3.1, Southern Airlines up 3.66% at HKD 3.96, Air China up 3.15% at HKD 5.57, and Cathay Pacific up 0.65% at HKD 10.79 [1] - The China Air Transport Association officially released the "Self-Discipline Convention for Air Passenger Transport," emphasizing industry self-regulation, market order maintenance, and strengthening anti-monopoly and anti-unfair competition measures [1] - The convention advocates strict compliance with pricing laws and anti-unfair competition laws, aiming to eliminate malicious competition practices such as predatory pricing and false advertising [1] Group 2 - Cathay Securities noted that the passenger load factor during the summer travel season remains high, with ticket prices holding steady, indicating potential for significant profits during this period [1] - The Civil Aviation Administration of China has initiated comprehensive measures to address "involution" competition, which is expected to reduce excessive low pricing in the short term and improve revenue management in the medium term [1] - Long-term policies are anticipated to ensure continued low growth in fleet planning, with a focus on the recovery of business travel demand and addressing involution [1]

Group 1 - The core viewpoint of the article highlights a positive trend in airline stocks, with significant increases in share prices for major airlines in China, including Eastern Airlines, Southern Airlines, Air China, and Cathay Pacific [1] - The China Air Transport Association has officially released the "Self-Discipline Convention for Air Passenger Transport," emphasizing the need for industry self-regulation, market order maintenance, and enhanced anti-monopoly measures [1] - The convention advocates strict adherence to laws related to pricing and competition, aiming to eliminate malicious competitive behaviors such as predatory pricing and false advertising [1] Group 2 - Cathay Securities notes that the passenger load factor during the summer travel season remains high, with stable ticket prices, indicating potential for significant profits during this period [1] - The Civil Aviation Administration of China is implementing measures to address "involution" competition, which is expected to reduce excessive low pricing in the short term and improve revenue management in the medium term [1] - Long-term policies are anticipated to ensure a low growth rate in fleet planning, while short-term demand fluctuations do not alter the overall positive outlook for the industry [1]

同日，当地交通事务主管部门工作人员表示，事故已被立案调查。此外，有关部门也公开表示，已将货 机上的飞行资料记录器与驾驶舱通话记录器带回，目前飞机仍然留在当地，研判发动机受损严重。 据悉，此次事故被指可能是受到台风天气影响，侧风过大。南都记者注意到，8月13日，桃园机场公司 官网发布消息称，据公司统计，13日排定航班起降共计663班次，受台风"杨柳"影响取消64班次，包含 客运航班49班次及货运航班13班次。因天气原因转降或返航航班包括南方航空CZ3087航班回航深圳、 国泰航空CX466航班回航香港等。 （文章来源：南方都市报） 8月13日，台北桃园机场发生一起美国联合包裹运送服务公司（UPS）货机UPS061航班发动机触地事 件。14日，桃园机场公司公共事务处工作人员回应南都N视频记者称，事发当日23时38分已重新开放机 场北跑道。当地交通事务主管部门工作人员则表示，事故已被立案调查。据悉，事故被指受到台风天气 影响。桃园机场公司官网13日消息称，受台风影响已取消64次航班。 现场视频显示，8月13日晚20时左右，一架UPS货机降落桃园机场北跑道时，右侧第4号发动机疑似触碰 跑道，瞬间窜出火光。据称，事件未 ...

Core Viewpoint - Cathay Pacific has announced a partnership with DHL to provide sustainable aviation fuel (SAF), aiming to significantly reduce greenhouse gas emissions associated with air freight operations [1][2]. Group 1: Partnership Details - Cathay Pacific will supply 2,400 tons of SAF to DHL, which is expected to reduce approximately 7,190 tons of greenhouse gas emissions [1]. - The SAF will be used for international flights departing from three Asian airports: Incheon International Airport in Seoul, Narita International Airport in Tokyo, and Changi Airport in Singapore [1]. - The collaboration is expected to reduce emissions equivalent to over 100 flights of an Airbus A330 cargo aircraft from Hong Kong to Singapore [1]. Group 2: DHL's Sustainability Goals - DHL Express aims to achieve net carbon neutrality by 2050, with the aviation sector accounting for 90% of the group's emissions [1]. - The company plans for SAF to constitute 6% of its fuel supply this year, with a target to increase this to 30% by 2030 [1]. - The SAF provided by Cathay Pacific is projected to reduce DHL's greenhouse gas emissions by up to 80% [1]. Group 3: Pricing and Competitive Advantage - The price of SAF is typically 3 to 5 times higher than traditional aviation fuel [2]. - Cathay Pacific is exploring competitive pricing strategies globally, and the locations covered in this partnership offer relative price advantages [2].

Group 1 - The core viewpoint of the article highlights the performance of the China Securities Hong Kong 100 Industrial Index, which has shown significant growth over various time frames, including a 6.35% increase in the past month, a 16.03% increase in the past three months, and a 15.30% increase year-to-date [1] - The index is categorized based on the China Securities industry classification standards, with a base date of December 31, 2004, and a base point of 1000.0 [1] - The index is fully composed of securities listed on the Hong Kong Stock Exchange, indicating a complete focus on this market [1] Group 2 - The index's holdings are primarily concentrated in the express delivery sector, which accounts for 58.50% of the index, followed by comprehensive logistics at 10.56%, industrial group enterprises at 10.33%, commercial vehicles at 7.78%, shipping at 7.51%, and air transportation at 5.32% [1] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with provisions for temporary adjustments in special circumstances, such as changes in the parent index or significant events affecting sample companies [2]

Shipping Data - Global container freight index CCFI reported at 1200.73 points, down 2.56% month-on-month[5] - Shanghai Container Freight Index (SCFI) at 1489.68 points, down 3.94% month-on-month[5] - Ningbo Container Freight Index (NCFI) at 1053.86 points, down 3.11% month-on-month[5] Air Freight Data - Global air cargo index BAI reported at 2071 points, up 2.17% month-on-month[5] - BAI30 at 3460 points, up 2.06% month-on-month[5] - BAI80 at 4455 points, up 0.84% month-on-month[5] Market Trends - SCFI has declined for nine consecutive weeks, with significant drops in the US West and East routes, at 9.8% and 10.7% respectively[19] - FedEx increased import handling fees from $1.5 to $2.5 per package, a 67% increase, effective August 18[13] - UPS will implement new dimensional weight pricing rules, tightening thresholds for additional fees[13] Cross-Border E-commerce Developments - Temu shifts focus to the European market as US tax policies impact growth, with GMV in Europe surpassing that in the US[15] - Trump plans to impose a 250% tariff on semiconductor and pharmaceutical products, potentially impacting trade dynamics[15]

格隆汇8月12日｜据南华早报，国泰航空(0293.HK)连续两季向机舱服务员提供为期3个月自愿无薪假， 为疫情后首次。一份内部备忘录显示，公司通知香港的机舱服务员，现已开放今年第四季度无薪假的申 请。国泰此次安排是在今年7月至9月首次提供最多3个月无薪假之后推出。国泰发言人表示，为让机舱 服务员有更大灵活性以满足个人需求，特别是在年终节日季即将来临之际，开放为期最多3个月的自愿 无薪假申请。 来源：格隆汇APP ...

Core Viewpoint - Cathay Pacific has placed an order for 14 Boeing 777-9 aircraft, valued at approximately $8.1 billion, marking its first purchase from Boeing in 12 years, aimed at modernizing its fleet and meeting increased capacity demands at Hong Kong International Airport [1][2]. Group 1: Aircraft Order and Fleet Modernization - The new order will help replace Cathay Pacific's aging Boeing 777 fleet and increase its total orders for the Boeing 777X series to 35 aircraft, making it the third-largest customer for this model globally [1][2]. - Cathay Pacific had previously expressed interest in acquiring 21 Boeing 777-9X aircraft in December 2013, with initial delivery expected between 2021 and 2024, but delays in development have pushed the timeline to 2027 [1][2]. Group 2: Market and Financial Implications - Following the announcement of the aircraft purchase, Cathay Pacific's stock price fell over 10% on August 6, closing at HKD 10.85, a decline of 9.66% [3][5]. - Morgan Stanley has revised its profit forecasts for Cathay Pacific downwards for 2025 to 2027, reflecting a 12.3% drop in passenger yield in the first half of 2025, despite strong demand for business class [4]. - JPMorgan Chase downgraded Cathay Pacific's stock rating from "neutral" to "underweight," setting a target price of HKD 8.2, while the company anticipates a decrease in ticket prices in the second half of the year due to increased capacity [5].

Core Viewpoint - Cathay Pacific has resumed its direct flight route from Hong Kong to Brussels, operating four flights per week, enhancing connectivity between Asia and Europe [1][2]. Group 1: Flight Operations - The new route operates using the Airbus A350-900 aircraft, featuring business class with flat beds, spacious premium economy, and comfortable economy class [1]. - Flight CX291 departs from Hong Kong at 23:50 and arrives in Brussels at 07:20 the next day, while return flight CX294 leaves Brussels at 13:25 and arrives in Hong Kong at 06:55 the next day [2]. Group 2: Market Expansion - Cathay Pacific has added three new European destinations this year: Rome, Munich, and Brussels, further shortening the travel distance between Asia and Europe [1]. - During the peak summer travel season, Cathay Pacific operates nearly 100 round-trip flights weekly between Hong Kong and Europe, covering major cities such as London, Amsterdam, and Frankfurt [2]. Group 3: Connectivity and Services - The airline collaborates with its low-cost subsidiary, HK Express, to operate over 100 passenger routes globally, including 23 routes to mainland China [2]. - Passengers traveling from Europe to Hong Kong can seamlessly connect to other destinations in the Greater Bay Area through services like "Sky and Sea Ticket" and "Land and Sky Ticket" [2].