Core Viewpoint - The domestic airline stocks have shown an upward trend, driven by strong performance in the third quarter of 2025, with major airlines reporting revenue growth and profitability due to summer travel and foreign exchange gains [1] Group 1: Airline Stock Performance - Eastern Airlines (00670) increased by 3.26%, trading at 4.44 HKD; Air China (00753) rose by 2.91%, trading at 6.36 HKD; Southern Airlines (01055) gained 2.63%, trading at 5.08 HKD; Capital Airport (00694) saw a 1.06% increase, trading at 2.85 HKD [1] - The three major airlines reported a combined net profit of 10.27 billion HKD in the third quarter, up from 9.19 billion HKD in the same period last year [1] Group 2: Market Outlook - According to Guotai Junan Securities, the October holiday period is expected to see a 5% year-on-year increase in passenger traffic, with domestic jet fuel prices remaining stable while ticket prices are projected to rise by 3-4% compared to September [1] - The Chinese aviation industry is anticipated to achieve profitability in October, outperforming typical seasonal performance, with expectations of entering a "super cycle" driven by market-driven ticket pricing, steady demand growth, and optimized passenger structure [1]

新华社天津11月9日电（记者王聿昊、刘惟真）11月9日，国航C919重飞"两航起义"航线主题航班从香港 飞抵天津，重温76年前"两航起义"的北飞航程，致敬"两航起义"爱国壮举。 11月9日，在天津滨海国际机场，各界嘉宾在国航CA104航班飞机前合影留念。新华社记者 赵子硕 摄 当日13时许，由国产大飞机C919执飞的国航CA104航班从香港国际机场起飞，航班机长、国航飞行总 队七大队副大队长郝鑫向旅客讲述了1949年"两航"员工在香港毅然起义、驾机北归的光辉历史。 16时许，飞机平稳降落在天津滨海国际机场，接受民航最高礼遇"过水门"。 "用C919重飞76年前的光辉航程，像一场跨越时空的接力。我们将继承和弘扬爱国主义精神，推动民航 事业高质量发展。"郝鑫说。 由原先张贵庄机场候机楼改建而成的"两航起义"展馆当日举行首展。展馆由中航集团投资建设，以实 地、实物、实证形式展现"两航起义"与"八一开航"历史，将持续向公众开放。 1949年11月9日，在中国共产党直接领导下，原中国航空公司总经理刘敬宜和中央航空公司总经理陈卓 林，率领2000多名员工在香港起义，两公司的12架飞机胜利飞抵北京、天津，回到了新中国的怀抱 ...

Investment Rating - The report maintains a "Recommendation" rating for the transportation industry [3] Core Insights - The transportation industry is experiencing a recovery, with various segments showing potential for growth, particularly in shipping, infrastructure, aviation, and express delivery [7][19][22][20] Shipping - The shipping sector is seeing mixed price movements, with the SCFI for the US East route down 17.2% and the Southeast Asia route up 6.4% [11] - The report highlights the importance of monitoring the price increases in container shipping and the potential recovery in oil tanker rates due to improved US-China trade relations [16][12] Infrastructure - Key metrics indicate a decline in truck traffic and railway cargo, while port throughput has increased significantly, suggesting a shift in market dynamics [17][18] - The report emphasizes the potential for dividend stocks in the infrastructure sector, particularly in ports, which are currently undervalued [19] Aviation - The aviation sector shows a positive trend with a 7.2% year-on-year increase in passenger volume, driven by improved demand and a low base effect [22] - The report suggests that the industry is poised for profitability in 2026, with a focus on valuation recovery and potential investment opportunities in major airlines [22] Express Delivery - The express delivery sector is benefiting from a reduction in price competition, with a notable increase in business volume and revenue [20] - The report indicates that the "anti-involution" policies are helping to stabilize prices and improve profitability in the sector [20] Logistics - The logistics segment is experiencing stable performance, with cross-border air freight prices showing a week-on-week increase [23] - The report notes the importance of monitoring the daily traffic at key ports and the implications for logistics operations [23]

Group 1 - The core incident involves Air China's flight CA1339, which took off from Beijing to Guangzhou on November 7, returned to Beijing shortly after takeoff, and then took off again later that day [2][5] - The flight departed from Beijing Capital Airport at 12:29 PM, returned at 1:19 PM, and took off again at 3:49 PM, arriving in Guangzhou at 6:45 PM [5] - The flight experienced severe turbulence around 12:47 PM before the return [5] Group 2 - Air China confirmed the return of flight CA1339 was due to reasons attributed to the airline itself [2][5]

Core Points - China National Airlines announced the resignation of its Chief Legal Counsel, Zhang Hua, effective immediately due to retirement [2] - Zhang Hua has held various positions since joining the company, including Chief Legal Counsel of China National Airlines since August 2017 and Chairman of Dalian Airlines since March 2020 [2] - In addition to his roles at China National Airlines, Zhang Hua has served as Chief Compliance Officer for both China National Airlines and the Aviation Industry Corporation of China since December 2022 [2]

Core Points - On November 7, a flight from Beijing to Guangzhou (CA1339) returned to Beijing shortly after takeoff due to airline reasons [1] - The flight was scheduled to depart at 12:00 PM and arrive at 3:25 PM, but it actually took off at 12:30 PM and landed at 6:45 PM [1] - The flight reached an altitude of approximately 9,000 meters before descending and returning to Beijing at 1:20 PM, then took off again at 3:49 PM after a delay of about 2 hours and 30 minutes [1] - The flight was operated by a different aircraft, an Airbus A330-343X, as indicated by flight tracking apps [1]

Core Points - The C919 aircraft, China's first domestically developed large passenger jet, successfully completed its inaugural flight on the Beijing-Hong Kong route, marking a significant milestone for the country's aviation industry [1][2]. Group 1 - The C919 is designed to accommodate 158-192 passengers and has a range of 4,075-5,555 kilometers, showcasing its capabilities as a competitive commercial aircraft [2]. - The aircraft was officially launched in November 2015, made its first flight in May 2017, and completed its first commercial flight in May 2023, indicating a rapid development timeline [2]. - A series of themed activities were initiated to celebrate the C919's successful flight, coinciding with the anniversary of the "Two Airlines Uprising," emphasizing national pride and the historical significance of the event [2][3]. Group 2 - The C919's flight to Tianjin will coincide with the 76th anniversary of the "Two Airlines Uprising," serving as a tribute to the patriotic spirit and the evolution of China's civil aviation [2][3]. - A cooperation agreement was signed between the Hong Kong "Two Airlines" Association and the "Two Airlines Uprising" exhibition hall to create a new landmark for patriotic education, further integrating resources for this initiative [3].

Core Viewpoint - The China International Airlines Corporation (Air China) is set to relaunch the C919 aircraft on the historic "Two Airlines Uprising" northern flight route on November 9, commemorating a significant event in Chinese aviation history [1][5]. Group 1: Event Details - The C919 aircraft successfully completed its inaugural flight from Beijing to Hong Kong on November 7, 2023, and was ceremoniously welcomed at Hong Kong International Airport with a "water salute" [3]. - The flight is part of a series of themed activities celebrating the "Two Airlines Uprising," which took place on November 9, 1949, when over 2,000 employees from two airlines took a stand for patriotism [5]. Group 2: Significance and Impact - The event is seen as a meaningful tribute to the "Two Airlines Uprising," with Hong Kong's Deputy Secretary for Administration emphasizing the importance of using domestically developed aircraft to connect the nation with the global market [3]. - The activities include a themed photo exhibition that highlights the historical significance of the "Two Airlines Uprising" and aims to foster patriotism [5]. - A cooperation agreement was signed between the Hong Kong "Two Airlines" Association and the "Two Airlines Uprising" exhibition hall to create a new landmark for patriotic education [5].

Group 1 - The core point of the article is the resignation of Zhang Hua, the Chief Legal Counsel of China National Airlines, due to retirement, effective immediately [2] Group 2 - The announcement was made on the evening of November 7 [2] - The resignation was submitted to the company's board of directors [2]

Core Viewpoint - China International Airlines Co., Ltd. announced the resignation of its General Counsel, Zhang Hua, due to retirement, effective immediately [1] Company Summary - The resignation of the General Counsel, Zhang Hua, was submitted to the board of directors [1] - The resignation is effective immediately upon submission [1]