t D a percent for more of the monoman TV . . . . . . . . . . . . ri HEFT III HULL I TTEE T III HD A 21 in @ � 0 t 作者 | 周智宇 编辑 | 张晓玲 航空业正打响一场"全面战争"。 8月15日，国泰集团行政总裁林绍波再次走进北京首都国际机场的国泰贵宾室时，他坦言，几乎认不出这里从前的样子。这间曾经迎来送往无数商旅政要的 休憩之所，经历了一年多的雕琢，被彻底重塑。 作为项目的"幕后总管"，国泰客运董事彭彧对此感受至深："作为一个北京人，在家门口有这样一个特别旗舰的贵宾室，我觉得还是感到非常自豪。" 她解释道，团队的目标是将全球一贯的设计理念与本地文化及创新概念相结合，而首次走出香港的"茗茶坊"便是一个典型，"我们希望能够借助北京旗舰贵 宾室的窗口，把中华优秀传统文化带向世界。" 这间经历了一年多雕琢、占地843平方米的休憩之所被彻底重塑，是国泰航空超1000亿港元庞大投资计划的缩影。 这背后，是国泰试图回答的一个核心问题：在飞机、航线、时刻日益趋同的今天，一家顶级航司的护城河究竟在哪里。 从万米高空 ...

Core Insights - Cathay Pacific has launched a flagship lounge at Beijing Capital International Airport as part of its global upgrade plan, which involves an investment of over HKD 100 billion [2][3] - The upgrade is driven by the rapid recovery of international traffic at Beijing Capital International Airport, with passenger numbers expected to exceed 17 million this year, marking a 21% increase from 2024 [5][6] - The airline is focusing on enhancing its presence in mainland China, operating 23 routes with over 300 weekly flights between Hong Kong and mainland cities [3][7] Investment and Expansion Plans - Cathay Pacific plans to invest over HKD 100 billion in fleet renewal, cabin product upgrades, and global lounge network renovations, with HKD 15 billion allocated for lounge upgrades at 12 key hubs [3] - The company aims to increase its mainland workforce from approximately 3,000 to 4,000 by the end of 2025, expanding its IT teams in Guangzhou and Shenzhen [3] Market Recovery and Demand - The first half of 2025 saw a 12.7% year-on-year increase in passenger service revenue, reaching HKD 37.212 billion, with passenger numbers growing by 27.8% to 13.627 million [3] - Business travel demand is recovering, with a notable increase in premium cabin bookings as leisure travelers upgrade their travel classes [7] Operational Enhancements - Cathay Pacific is actively expanding its network, with plans to add 19 new passenger routes in 2025, including four in mainland China [7] - The airline's Urumqi route has exceeded expectations, with a seat occupancy rate of over 90% [7] Airport Developments - Beijing Capital International Airport is enhancing its international services, with a projected increase in international and regional routes to over 100 by the end of 2025 [6]

《中国民航报》、中国民航网 记者郑雪、汪洋 报道：国泰航空近日宣布，为配合持续投资内地市场的 举措，其位于北京首都国际机场的旗舰贵宾室以全新设计盛大启幕。焕然一新的贵宾室秉承"以人为 本"的核心设计理念，致力于为会员和旅客带来跃升的候机体验。继今年5月香港国际机场"逸连堂"贵宾 室重装开幕后，北京贵宾室的焕新升级是国泰航空在香港乃至全球重点航线贵宾室全面升级计划中的又 一重要里程碑。 国泰集团管理层代表联同北京首都国际机场及其他相关机构嘉宾，共同出席国泰航空北京贵宾室焕新开 幕仪式 为庆祝北京旗舰贵宾室的焕新启幕，国泰航空于8月15日举行了揭幕仪式。国泰集团行政总裁林绍波表 示，北京旗舰贵宾室以焕新面貌重新开幕，进一步彰显了国泰"植根香港、背靠祖国、联通世界"的独特 定位。焕新升级的北京贵宾室完美配合国泰航空今夏每日7班北京至香港航线的运营，致力于为旅客提 供更丰富、便捷的空中和地面服务。 记者了解到，北京首都国际机场是国泰航空全球网络中重要的航空枢纽。截至目前，国泰集团在首都机 场、大兴机场均有航班运营，其中国泰航空在首都机场每天运营7班，香港快运在大兴机场每天运营1 班。国泰客运董事彭彧表示："我们将'舒 ...

林绍波提到，要在产品、服务等细节方面做到更好，北京贵宾室升级是其中一步，国泰对内地旅客的需 求非常关注，机上和地面服务中已将普通话和简体字纳入官方语言。 转自：北京日报客户端 8月16日，国泰航空位于北京首都国际机场的旗舰贵宾室已全面升级并正式迎客。 据了解，国泰集团在首都机场、大兴机场均有航班运营。国泰航空每天有7对航班往来北京首都国际机 场，连同香港快运每天1对往返北京大兴国际机场的航班，每周有56对航班往来香港与北京两大国际机 场。 国泰集团行政总裁林绍波在接受记者专访时表示，北京航站在国泰全球网络中占有非常重要的位置，体 现"植根香港、背靠祖国、联通世界"的独特定位。 国泰顾客及商务总裁刘凯诗表示，2023年以来，国泰的商务旅客数量虽然暂未完全恢复，但正在逐年增 长。除了一般的商务会面之外，奖励旅游的旅客数量也在增长，很多旅客从世界各地前往香港旅行。 2023年以来，很多游客都希望获得更好的出行体验，一些主要乘坐经济舱或特选经济舱的旅客会增加消 费，升级到特选经济舱或商务舱。 图片来源：国泰航空 来源：北京日报客户端 除北京贵宾室以外，国泰航空于内地还分别在上海浦东国际机场和深圳蛇口设有两间贵宾室。其 ...

今年5月，国泰航空香港国际机场的"逸连堂"贵宾室重装开幕。由于"寰宇堂"头等贵宾室计划在2026年重新开幕，其商务贵宾室后续也将进行翻新，期间， 国泰航空将"玲珑堂"商务贵宾室作为香港机场的临时头等贵宾室。目前，旅客在香港机场仍可使用"玉衡堂"头等及商务贵宾室。 国泰顾客及商务总裁刘凯诗表示，2023年以来，国泰的商务旅客数量虽然暂未完全恢复，但正在逐年增长。除了一般的商务会面之外，奖励旅游的旅客数量 也在增长，很多旅客从世界各地前往香港旅行。此外，2023年以来，很多游客都希望获得更好的出行体验，一些主要乘坐经济舱或特选经济舱的旅客会增加 消费，升级到特选经济舱或商务舱。 刘凯诗表示，下一步国泰航空将在纽约JFK机场开设全新旗舰贵宾室，目前已开始动工，按照国泰航空的预期，明年3月底可以面世。 北京商报讯（记者关子辰 牛清妍）8月16日，国泰航空宣布，其位于北京首都国际机场的旗舰贵宾室全面升级。 除北京贵宾室以外，国泰航空于内地还分别在上海浦东国际机场和深圳蛇口设有两间贵宾室。其中，位于蛇口的贵宾室是国泰航空首家设在邮轮母港的码头 贵宾室，提供无缝衔接的多式联运服务。 ...

Group 1 - The core viewpoint of the article highlights a significant increase in Hong Kong airline stocks, with China Eastern Airlines and China Southern Airlines rising over 5%, and Air China increasing by 3% [1] - The Civil Aviation Administration of China has released a self-discipline convention for air transport, aiming to strengthen industry self-regulation and eliminate malicious competition aimed at excluding rivals [1] - According to Cinda Securities, the current short-term increase in industry capacity is substantial, while demand is expected to take time to recover; however, the high passenger load factor indicates an improving supply-demand relationship, which is likely to drive ticket prices upward [1] Group 2 - The article emphasizes the potential for ticket price recovery during the peak summer travel season due to improved supply and demand dynamics [1] - Key airlines to watch include Air China, China Eastern Airlines, China Southern Airlines, Spring Airlines, and Juneyao Airlines, as they are expected to benefit from the anticipated recovery in ticket prices [1] - The latest stock prices and percentage changes for the airlines mentioned are as follows: China Eastern Airlines at 3.120 (up 5.41%), China Southern Airlines at 4.020 (up 5.24%), Air China at 5.560 (up 2.96%), and Cathay Pacific at 10.840 (up 1.12%) [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]

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]

Core Viewpoint - Morgan Stanley has set a target price of HKD 10.8 for Cathay Pacific Airways (00293) and maintains a "market perform" rating, highlighting uncertainties in both passenger and cargo operations while emphasizing management's commitment to restoring capacity and optimizing network and cost efficiency to maximize profitability [1] Group 1: Passenger Business - Management indicated that the demand for new passenger routes will take 12 to 24 months to mature [1] - The company is focused on restoring capacity and optimizing its network to enhance profitability [1] Group 2: Cargo Business - The cargo business is expected to remain strong in the first half of 2025 due to initial demand and the company's flexibility in adjusting routes based on demand dynamics [1] - Despite the current strength, the cargo segment still faces uncertainties [1] Group 3: Dividend Policy - The company maintains a dividend payout ratio of 50% [1]

Core Viewpoint - Morgan Stanley has set a target price of HKD 10.8 for Cathay Pacific Airways (00293) and assigned a "Market Perform" rating, highlighting uncertainties in both passenger and cargo operations while emphasizing management's commitment to restoring capacity and improving cost efficiency to maximize profitability [1] Group 1: Passenger Business - Management indicated that the demand for new passenger routes will take 12-24 months to mature [1] - The company is focused on optimizing its network and improving cost efficiency to enhance profitability [1] Group 2: Cargo Business - The cargo business has shown strength in the first half of 2025 due to initial demand and the company's flexibility in adjusting routes based on dynamic demand [1] - Despite the current strength, the cargo segment still faces uncertainties [1] Group 3: Dividend Policy - The company has maintained a dividend payout ratio of 50% [1]