Core Viewpoint - Cathay Pacific Airways (00293) has announced a commitment agreement with Qatar Airways, which includes a buyback of 643 million shares, representing approximately 9.57% of the issued shares, at a price of HKD 10.8374 per share, reflecting a discount of about 3.9% from the last trading price of HKD 11.28 [1] Summary by Relevant Sections Share Buyback Details - Qatar Airways has irrevocably committed to a buyback agreement with Cathay Pacific, involving the repurchase of 643 million shares at a price of HKD 10.8374 per share [1] - The total cost of the share buyback is HKD 6.969 billion [1] Public Shareholding Impact - Following the completion of the buyback, the public shareholding will decrease to approximately 20.53%, below the minimum requirement of 25% as per Listing Rule 8.08 [1] - As of the announcement date, the public shareholding was approximately 28.14%, which had increased from about 25.04% due to the issuance of 278 million shares related to bond conversion rights [1] Rationale for the Buyback - The buyback price was determined based on the volume-weighted average price of the shares over the five trading days ending November 3, 2025, minus a 3% discount [1] - The board considered the buyback as a good opportunity to enhance earnings per share [1] - The company will maintain sufficient cash to support its operations post-buyback, taking into account future funding needs and market conditions [1] - The buyback allows Qatar Airways to exit in an orderly manner, minimizing potential market volatility from selling shares in the market [1]

Group 1 - Cathay Pacific Airways has announced a commitment agreement with Qatar Airways to repurchase 643 million shares, representing approximately 9.57% of its issued shares, at a price of HKD 10.8374 per share, which is about 3.9% lower than the last trading price of HKD 11.28 [1] - Following the completion of the share repurchase, the public float of the company is expected to decrease to approximately 20.53%, below the minimum requirement of 25% as per the Listing Rules [1] - The company has applied for a public float waiver from the Stock Exchange, which has been granted, but details and reasons for the waiver must be disclosed [1] Group 2 - The board of directors considered several factors when deciding on the share repurchase, including that the repurchase price was set at a 3% discount to the volume-weighted average price over the five trading days ending November 3, 2025, presenting a good opportunity to enhance earnings per share [2] - The total cost of the share repurchase is HKD 6.969 billion, and the company will maintain sufficient cash to support its operations post-repurchase, considering its resources, future funding needs, and market conditions [2] - The share repurchase allows Qatar Airways to exit in an orderly manner, reducing potential market volatility that could arise from selling its shares in the market [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的内容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公告全部或部份内容而產生或因依賴該等内容而引致的任何損 失承擔任何責任。 CATHAY PACIFIC AIRWAYS LIMITED 國泰航空有限公司 (在香港註冊成立之有限公司) (股份代號：293) 擬進行場外股份回購 獨立董事委員會及獨立股東的獨立財務顧問 擬進行股份回購 於二零二五年十一月五日，卡塔爾航空以本公司為受益人簽訂承諾契約。根據及受限於 承諾契約的條件，卡塔爾航空已不可撤回地向本公司承諾簽訂回購契約，内容有關本公 司於場外回購卡塔爾航空所擁有的643,076,181股股份，佔已發行股份約9.57%，回購 價為每股回購股份港幣10.8374元。 本公司為一家於香港註冊成立之公司。根據《公司條例》第240條，上市公司不得在獲 得其股東的特別決議授權前訂立與其股份有關的待確定購買合約。儘管本公司與卡塔爾 航空已磋商及協定回購契約的形式，本公司須待回購契約於股東特別大會上獲親身或委 任代表出席的獨立股東在投票表決中以至少四分之三票數批准才會簽訂回購契約。倘獲 得必要的 ...

Core Viewpoint - Airline stocks are generally rising, driven by positive news regarding holiday arrangements and performance forecasts for the airline industry in China [1] Group 1: Stock Performance - Eastern Airlines (00670) increased by 5.29%, trading at 4.38 HKD [1] - Air China (601111) (00753) rose by 3.92%, trading at 6.1 HKD [1] - Southern Airlines (600029) (01055) saw a 2.08% increase, trading at 4.89 HKD [1] - Cathay Pacific (00293) experienced a slight rise of 0.36%, trading at 11.27 HKD [1] Group 2: Industry News - On November 4, the State Council released a notice regarding the holiday schedule for 2026, which includes a 9-day Spring Festival holiday, marking the longest in history [1] - Cathay Haitong Securities noted that A-share airline companies achieved counter-cyclical growth in Q3 2025, surpassing Q3 2019 for three consecutive years, indicating a potential upward trend in profitability [1] Group 3: Future Outlook - The concept of "anti-involution" is expected to help reduce losses in Q4's off-peak season and turn around the overall performance for the year [1] - The long-term outlook for Chinese airlines is optimistic, with market-driven ticket pricing, steady demand growth, and an optimized customer base expected to drive an increase in profitability for airlines in 2026 [1]

每经AI快讯，航空股普遍走高，截至发稿，东方航空(00670.HK)涨5.29%，报4.38港元；中国国航 (00753.HK)涨3.92%，报6.1港元；南方航空(01055.HK)涨2.08%，报4.89港元；国泰航空(00293.HK)涨 0.36%，报11.27港元。 （文章来源：每日经济新闻） ...

Group 1 - The core viewpoint of the article highlights a significant rise in airline stocks, driven by positive market sentiment and government announcements regarding holiday arrangements [1] - As of the report, Eastern Airlines saw a 5.29% increase, China National Aviation rose by 3.92%, Southern Airlines increased by 2.08%, and Cathay Pacific experienced a 0.36% rise [1] - The State Council announced that the 2026 Spring Festival holiday will last for 9 days, marking it as the longest Spring Festival in history, which is expected to boost travel demand [1] Group 2 - Cathay Securities noted that A-share airline companies achieved counter-cyclical growth in Q3 2025, surpassing performance from Q3 2019 for three consecutive years, indicating a potential upward trend in profitability [1] - The concept of "anti-involution" is expected to help reduce losses in the off-peak Q4 and contribute to an overall turnaround for the year [1] - The long-term outlook for Chinese airlines is optimistic, with market-driven ticket pricing, steady demand growth, and improved passenger demographics expected to drive profitability upward in 2026 [1]

国泰集团承诺投资额超1000亿港元，进一步巩固香港国际航空枢纽地位，并将旅客体验提升至更高层 次，其中包括全球贵宾室全面升级计划。今年8月，国泰航空全新设计的旗舰贵宾室已于北京首都国际 机场以全新面貌重新启幕。该公司还分别在上海浦东国际机场和深圳蛇口邮轮母港设有贵宾室，致力于 为往返香港与内地的旅客提供便捷、舒适的出行体验。（编辑：张薇，校对：李季威，审核：韩磊） 国泰航空 CX968 航班从香港飞抵长沙，现场举行水门仪式礼迎（记者汪洋 / 摄） 开航当日，国泰航空在长沙黄花国际机场举行了隆重的庆祝仪式。当首航航班CX968飞抵长沙黄花国际 机场时，机场以象征民航最高礼遇的"水门仪式"迎接，标志着湘港两地的空中连接正式迈入全新阶段。 长沙作为长江中游城市群的核心城市，既是辐射华中、连接中西部的战略门户，更是驱动区域高质量发 展的重要引擎。国泰航空开通香港-长沙航线，不仅为长沙打通了直达粤港澳大湾区的快捷空中通道， 搭建起高效平台，同时还将助力两地经贸合作、推动产业协同、促进文旅交流与人才互动，为区域协同 发展注入新动能。 国泰集团持续拓展全球航线网络，截至目前已覆盖全球逾100个航点。为更好地满足内地与香港之 ...

国泰集团中国内地董事郑家驹表示，将充分发挥"植根香港、背靠祖国、联通世界"独特优势，打造长沙 与香港高效的"空中桥梁"，并依托香港国际航空枢纽优势，吸引更多国际旅客到访，为长江中游城市群 对接全球市场提供更多机遇。 该航线采用空客A321neo客机执飞，设有公务舱与经济舱，全舱位配备机上娱乐系统。其开通将进一步 助力湘港两地在经贸、旅游、文化等领域的交流与合作。 同时，旅客可享受联程值机、行李直挂等一站式服务，通过香港枢纽中转，抵达国泰航空覆盖全球的超 过100个目的地，湘企"走出去"、外资"引进来"的空中通道更加畅通。 中新社长沙11月4日电 (付敬懿)国泰航空长沙往返香港直航航线4日正式开航，该航线每日一班，全程飞 行时间1小时40分钟。 据悉，今年以来，湖南两大航空口岸国际客运航线网络辐射力不断提升。长沙机场当前通达12个国际及 地区城市，其中曼谷、吉隆坡、首尔等地航班频次达到每日一班及以上。张家界机场当前通达11个国际 及地区城市，年内新增了至沙巴、新加坡等地航线。(完) ...

长沙晚报掌上长沙11月4日讯（全媒体记者 吴鑫矾）11月4日，国泰航空CX968航班从香港起飞，顺利落地长沙黄 花国际机场，标志着香港往返长沙航线正式启航，长沙黄花机场以民航最高礼遇"过水门"仪式迎接首航航班。 湖南机场集团相关负责人表示，国泰航空香港往返长沙航线的开通，将进一步助力两地在经贸、旅游、文化等领 域的交流与合作，依托国泰航空优质的服务品质和航线网络，旅客可享受联程值机、行李直挂等一站式服务，通 过香港枢纽中转，轻松抵达国泰覆盖全球超过个100目的地，湘企"走出去"、外资"引进来"的空中通道更加畅通。 "我今天是坐首航航班抵达长沙的，我看到机舱内不仅有内地和香港的旅客，还有很多来自其他国家及区域的国际 游客。长沙是国泰集团在内地的第24个航点，也是今年在内地新增的第五个目的地，希望依托香港国际航空枢纽 的优势，为湖南对接全球市场提供更多机遇。"国泰集团行政总裁林绍波说。 "我们不仅希望吸引全球旅客前来领略湖湘文化的独特魅力，更致力于为华中地区的旅客与企业打开一扇便捷联通 世界的大门。"国泰集团中国内地董事郑家驹说，长沙航线的开通是国泰落实内地市场战略布局的又一重要举措， 国泰集团将充分发挥"植根香 ...

Core Insights - The opening of Guangzhou Baiyun Airport's T3 terminal and the fifth runway marks a significant upgrade in the airport's capabilities, enhancing its status as a major aviation hub [1][8] - Shenzhen has been selected as the host city for the 2026 APEC meeting, presenting new development opportunities for Shenzhen Bao'an International Airport [2] - The three major airports in the Guangdong-Hong Kong-Macao Greater Bay Area (Guangzhou, Shenzhen, and Hong Kong) are engaged in both competition and collaboration to expand the regional aviation market [3][4] Airport Developments - Guangzhou Baiyun Airport achieved a record passenger volume of over 7.6 million in October 2025, reflecting an 11% year-on-year increase [8] - Hong Kong International Airport processed 44.7 million passengers in the first three quarters of the year, with a 14.8% increase compared to the same period in 2024 [4] - Shenzhen Airport reported a significant increase in passenger and cargo traffic during the recent holiday period, with 1.602 million passengers and 38,000 tons of cargo handled [4] Competitive Landscape - The three major airports are competing for air traffic while also working together to grow the overall aviation market in the Greater Bay Area [3][4] - Cathay Pacific and China Southern Airlines are the two main carriers competing for market share, with Cathay expanding its routes into China and Southern Airlines responding by increasing flights to Hong Kong [11][15] - Cathay Pacific's new direct flight from Hong Kong to Urumqi and increased flights to major cities in mainland China highlight its strategy to capture high-end travelers [12][14] Future Outlook - The Greater Bay Area is projected to see a total passenger throughput of over 200 million by 2024, indicating strong growth potential for the aviation sector [19] - The collaboration among the three airports aims to create a world-class airport cluster, enhancing the region's global aviation standing [20] - The competitive dynamics between Cathay Pacific and China Southern Airlines are expected to improve service quality and passenger experience, providing travelers with more options and better pricing [20]